Tuesday 30 May 2017

NAMA’s admin fees don’t add up

SO, several large firms have turned down work on the basis that the fees on offer are insufficient (‘Low fees blamed as NAMA contracts declined’, Irish Independent, October 4).

What is more concerning is that, over its lifetime, NAMA is expecting to spend €1.6bn on fees on a portfolio of €40bn.

Even with the economies of scale one might expect with transactions of this size, professional firms apparently believe they are entitled to 4pc of this huge sum basically to assist with some administration.

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