08/03/2012
Nama Lend To NI Investors
In a bid to revive Northern Ireland's floundering property market offers of loans have been made to property investors.
The Irish Government’s National Asset Management Agency (Nama) has said that they will lend to investors who want to buy property from their list or reprocessed properties.
Nama proposes to offer up to 70% finance to purchasers of commercial property under the control of the agency or receivers appointed by it.
Known as vendor finance it is hoped that this move will help bring capital back into both the Republic of Ireland and Northern Ireland.
In an interview with the Financial Times, the head of the state agency said that vendor financing was becoming an increasingly attractive option.
"There is a lot of interest in our portfolio, but also a lot of difficulties getting finance at the moment," said Brendan McDonagh, Nama's Chief Executive.
He told the newspaper that the offer to provide debt for potential customers would also help bring new buyers into the market and firm up prices for Nama’s assets.
(LB)
The Irish Government’s National Asset Management Agency (Nama) has said that they will lend to investors who want to buy property from their list or reprocessed properties.
Nama proposes to offer up to 70% finance to purchasers of commercial property under the control of the agency or receivers appointed by it.
Known as vendor finance it is hoped that this move will help bring capital back into both the Republic of Ireland and Northern Ireland.
In an interview with the Financial Times, the head of the state agency said that vendor financing was becoming an increasingly attractive option.
"There is a lot of interest in our portfolio, but also a lot of difficulties getting finance at the moment," said Brendan McDonagh, Nama's Chief Executive.
He told the newspaper that the offer to provide debt for potential customers would also help bring new buyers into the market and firm up prices for Nama’s assets.
(LB)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.