Nama may reverse ban on loan buy-backs

A ban on property developers who are in Nama from buying back their own loans may eventually be lifted if the agency is still seeking to offload assets prior to being wound up in 2020.

Yesterday, Nama chairman Frank Daly said if they were left with a “rump of assets that nobody is interested in except perhaps the actual debtor”, then the possibility may be considered down the line.

Currently, defaulting debtors in Nama are prohibited under legislation from buying back their own loans, unlike debtors of the Irish Bank Resolution Corporation.