Fixing debt for investors

THE IRISH Property Council’s first ever open meeting planned for Dublin’s City West Hotel this Saturday is likely to be a lengthy…

THE IRISH Property Council’s first ever open meeting planned for Dublin’s City West Hotel this Saturday is likely to be a lengthy affair, with no less than four hours set aside to hear complaints, mainly from investors. The council’s main aim is to renegotiate property-related debt for the man in the street, just as it is being offered to the developers and speculators in the form of Nama. It also wants warehousing of loans, deals that allow borrowers to park their debt until the market recovers. The council complains that property investors have no salary, no pension, no social welfare, no job, negative equity, unmanageable debt and that they are threatened by bankruptcy and repossession of their homes. Ochon, ochon. . .