moycullen14
Registered User
- Messages
- 17
It now seems that any debts not transferred into NAMA have effectively been written off. Furthermore, developers are being incentivised for sales above the transfer figure AND being paid a 'salary' to manage their (our) investments. All in the name of maximising return for the taxpayer. One would have thought that not allowing the developers to escape with the haircut would have provided a better return for the poor, beleagured tax-payer, but I digress.
Where does this leave the developer or property investor OUTSIDE of NAMA? How are they meant to compete without financing, write-offs and all the other goodies that NAMA provide?
BTL investors who have sen their investments in tatters, small scale builders and developers are being left swing in the wind with no support. The only company they have is blood-sucking financial institutions who can't and won't lend - the lifeblood of any property market. Meantime, the big boys are being cossetted by NAMA. Well, here's one non-NAMA developer who's telling the banks and everyone else to go to hell. Not another penny from me until the playing field is levellled. Maybe if we ALL did this, the banks might sit up and take some notice.
Where does this leave the developer or property investor OUTSIDE of NAMA? How are they meant to compete without financing, write-offs and all the other goodies that NAMA provide?
BTL investors who have sen their investments in tatters, small scale builders and developers are being left swing in the wind with no support. The only company they have is blood-sucking financial institutions who can't and won't lend - the lifeblood of any property market. Meantime, the big boys are being cossetted by NAMA. Well, here's one non-NAMA developer who's telling the banks and everyone else to go to hell. Not another penny from me until the playing field is levellled. Maybe if we ALL did this, the banks might sit up and take some notice.
