Homeowners in the Delvin Banks estate in the Naul in north county Dublin say NAMA may have been involved but it was just like any purchase from a developer.
Gerard Kenny and his wife Avril Butler, both aged in their 30s, bought their three-bedroom home 15 months ago through NAMA's 80/20 Deferred Payment Initiative which meant the couple had to provide only 80pc of the payment upfront. The remaining amount owed would be paid back in five years and dependent on the value of the house. The 29 homes in Delvin Banks were among 115 houses sold under a pilot scheme. Gerard said the couple are delighted with their home and the estate is a fantastic place to raise their five-month-old daughter Olivia. "We feel very lucky to be honest. What it essentially means is that we've been able to buy our first home without looking at it as a stepping stone."
Gerard, who returned to Ireland with Avril in 2012 after selling his home in the UK, dismissed any notions that NAMA's involvement in selling homes could mean unfinished developments or ghost estates.
"I know NAMA came in but the way the estate felt, it still felt like it was all done by a developer. It sounded nothing different to anything any of our friends went through buying their houses. Part of me thinks thank God for Nama."
Another married couple, Tony Brennan (38) and Bernie McNally-Brennan (36), said they bought their house in 2008 "at the height of the boom" long-before the agency's intervention in the estate.
"There are no issues with living here at all," said newly-wed Bernie. "The roads are in good condition and the streets lights all work."