Peter Fitzpatrick
Ceist:115. Deputy Peter Fitzpatrick asked the Minister for Finance the number of homes that the National Asset Management Agency owns in County Louth; and if he will make a statement on the matter. [11660/16]
Amharc ar fhreagraTuesday, 24 May 2016
Ceisteanna (115)
Freagraí scríofa
I would advise the Deputy that NAMA does not own property. NAMA acquired loans and its relationship to property is that of a secured lender; the same, for example, as AIB or Bank of Ireland. In that capacity, NAMA holds security over properties that are owned by its debtors or, in the case of enforcement, which are managed on behalf of those debtors by duly appointed insolvency practitioners.
NAMA advise that there are approximately 6,000 completed residential properties within its loan portfolio. I am further advised that 99% of these properties are occupied. The other 1% is frictional vacancy due to tenants relocating as leases roll over and expire.
In Louth, NAMA has an exposure to approximately 120 residential properties, through its loans, made up of four houses, three of which are currently occupied and one of which is on the market for sale, and 116 apartments, 109 of which are currently occupied and the remaining seven of which are in the process of being tenanted.