NAMA extends 80/20 Deferred Payment Initiative to an additional 100 units in 4 counties

The National Asset Management Agency (NAMA) has today launched the third phase of its residential mortgage 80:20 Deferred Payment Initiative, featuring an additional 100 houses and apartments in 4 counties and bringing the overall offering to close to 400 properties. 

The properties included in the new phase are located in counties Cork, Dublin, Limerick and Wicklow.

They range in size from two-bedroom apartments to five-bedroom houses, with prices ranging from €95,000 to €370,000. A listing of the properties that have been added to the initiative is attached (see note 1).

Further information on properties included in the initiative can be viewed on

The Agency is extending the initiative after a positive response from home buyers. The initiative has resulted in 120 houses being sold, generating sales proceeds of €22 million, since it was launched last year.

Commenting on the extension of the 80:20 Initiative, NAMA Chief Executive Brendan McDonagh said:

“This initiative has made good steady progress, generating sales proceeds of €22 million to pay down debts owed to NAMA. 

It has also been good for families, couples and individuals seeking to buy a home with an element of protection from falling values”. 

Mr McDonagh also said the success of the initiative to date means it makes sense to extend it to more properties.

“While CSO figures suggest residential property prices appear to be stabilising, protection against falling values continues to be an attractive feature for prospective buyers”. 

Key Features of the 80:20 Initiative: 

NAMA does not own the properties and is not itself issuing the mortgages.

This is a targeted initiative aimed solely at potential home buyers who may have a concern that house prices may fall further and are consequently postponing their purchase.

The product will protect buyers from decreases of up to 20% in the value of their property over the next five years.

Three banks – Bank of Ireland, AIB [through its subsidiary EBS] and permanent tsb bank – are participating in the initiative. Buyers should approach these banks to obtain a mortgage, which will be subject to typical lending criteria.

80% of the agreed sale price of the property is paid upfront. The remaining 20% will only be due in five years’ time. How much, if any, of that 20% is then due will be calculated on the basis of an independent assessment of the property’s value at that point (see note 2).

As normal, each of the three lenders will require buyers to part-fund their purchase with a deposit of at least 10% of the value of the house.

A key benefit for buyers is that, for the first five years, their repayments can be calculated based on a mortgage that includes the deferred payment element. If the price of their house falls over the five years and they may not be liable for the deferred payment element, they will have, in effect, been accelerating their mortgage repayment and achieving considerable savings on the interest accruing on their mortgage.

This is a targeted, limited initiative supported by NAMA.

The initiative is not aimed at buyers who cannot get a mortgage or at investors.