NAMA Portfolio Issues

Dáil Éireann Debate, Thursday - 21 March 2013

Thursday, 21 March 2013

Ceisteanna (90)

Pearse Doherty

Ceist:

90. Deputy Pearse Doherty asked the Minister for Finance further to the recent statement by the National Asset Management Agency that it had sold €22 million of Irish residential property with its 80:20 deferred payment initiative, if he will confirm the overall value of the 80:20 mortgages that have been extended to buyers of such property and the overall value of sales which have not involved the 80:20 mortgage. [14570/13]

Freagraí scríofa

Minister for Finance

As the Deputy will be aware the mortgages under the 80/20 Deferred Payment Initiative are provided by Bank of Ireland, AIB through its subsidiary EBS, and Permanent TSB the details of which are not made available to NAMA. However, I am advised by NAMA that of the houses available under the scheme 60% were acquired using the deferred payment mortgage through one of the participating banks the balance were acquired mainly by cash buyers.