Saturday August 15, 2020

Nama hikes developers’ interest rates as building row escalates

Bad bank’s move seen as counter strike against developers challenging home-building plan

3rd April, 2016
Paddy McKillen is to develop the site of the former John Player factory in Dublin 8 for Nama

Nama is systematically increasing the interest rates it is charging developers that it has entered into joint venture agreements with.

The move is being seen as a counter strike against a different group of developers who are challenging its plans to build up to 20,000 homes in the next four years.

Sources said that several developers have been landed with rate increases as facilities fall due for renewal, or as new facilities are issued. Sources said...

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