Estate agents are asking prospective buyers of properties with outstanding fire safety audits if they can purchase in cash as banks may not lend to them.
Responding to an email enquiry about a Celtic Tiger-era property for sale in the Dublin 8 area, an estate agent working for Sherry FitzGerald asked the potential buyer if they would be purchasing with cash or a mortgage.
When the buyer queried why they were being asked this at such an early stage, the agent responded to say a fire safety audit was being carried out on the building and, “as a result a bank might not lend on it”.
Advocacy groups have said up to 92,000 apartments built during the boom in Ireland could be affected by legacy defects such as a lack of fire-stopping material.
An Irish Times investigation running since December 2018 has uncovered defects in 33 developments comprising more than