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Thu 09 Sep 2008Developers offer interest-free loans to attract buyers
TWO OF the State's biggest property developers will today announce initiatives to assist buyers who find it difficult to put together deposits in a market where mortgages of more than 80 per cent are increasingly rare.
Bernard McNamara's newly completed apartment scheme at Elm Park in Dublin 4 has seen prices already cut by 20 per cent. Now the developer is offering interest-free loans of up to 30 per cent of the selling price to attract buyers for 70 of the 330 units.
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