Builders seek 'soft loans' from government

[BoyRacer]

Builders seek ‘soft loans’ from government - Neil Callanan → tribune.ie/business/news/art … overnment/

**The construction industry has asked government to consider giving “soft loans to fund the infrastructure costs for the duration” of residential developments. The loans could be repaid when the sale of units are closed, the Construction Industry Federation (CIF) told the commission on taxation.
**
It made the suggestion because developers are required to pay upfront for the development of infrastructure and ancillary works before they can sell residential units. The downturn in the housing market and credit crisis mean that “banks are unwilling to support development expenditure necessary to create the initial impetus required for development projects. The result is a stagnant residential construction sector under pressure from lenders to improve liquidity”.

there is more…

F!3K this for a game of soldiers, he was at the same thing last year around this time and he got the home choice loan on the back of it. I’m going for a walk before I burst a blood vessel.

[Mossy_Heneberry]

Wait now, I thought NAMA would get the banks to start lending again? Oh I’ve forgotten, that’s not what NAMA is for.