NAMA ending negative equity protective scheme
NAMA is ending its 80:20 Deferred Payment Initiative as the housing market stabilises.
It protects buyers from price falls of up to 20% for up to five years after purchase.
People who have already bought houses in the scheme, together with those who enter a contract to buy a qualifying property before the end of May, will continue to benefit from the Initiative.
€44m has been generated from the sale of houses under the initiative, which aimed to remove the fear of negative equity for buyers.
The scheme will officially end on May 31 this year.