Almost 90% of INBS holiday home loans going to Nama

Almost 90 per cent of the €30 million lent by Irish Nationwide to fund the purchase of holiday homes is to be transferred to the National Asset Management Agency (Nama), as the homes in question are owned by major property developers.

24th April, 2010

Almost 90 per cent of the €30 million lent by Irish Nationwide to fund the purchase of holiday homes is to be transferred to the National Asset Management Agency (Nama), as the homes in question are owned by major property developers.

The building society, which announced losses of €2.5 billion for the year to December last week, will transfer almost all of its holiday home loans to the state’s bad bank as the properties form part...

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