Larne businessman David Hunter said builders, the banks and government must get together in a bid to avert the standstill in the construction sector deepening into a full-blown crisis.

“I know that theres’s a lot of people out there in really dark places at the minute who are seriously worried about their own personal situation.

“That is why I am speaking out because I know a lot of people in my position are scared for fear of repercussions from the banks further down the line.

“The fact is that more people need to speak out about what is happening and I hope that others will come forward with their stories.”

Mr Hunter’s own experience began after work started on a luxury, six apartment development outside Larne in the summer of last year.

At the moment it is hanging with the unfinished homes unable to be sold and effectively worthless to either him or the First Trust Bank which initially offered to support the investment.

The story is one of many similar situations illustrating perfectly what the industry claims is a shutdown that has left builders with either unfinished projects or homes that no-one can buy because they cannot obtain mortgages.

It emerges as representative groups including the Construction Employers Federation (CEF) and the Construction Property Group (CPG) have called for urgent action to ease the crisis particularly in the domestic housing sector.

Speaking last week ahead of a public meeting in Cookstown, CPG spokesman Brendan Cunnane said the sector was heading for catastrophe at the lack of liquidity or money in circulation to enable buyers to get mortgages and get the stagnant housing market moving once again.

“I can’t understand their strategy other than a generalisation to slow things down and to be more cautious,” said Mr Hunter who is a member of the Northern Ireland Independent Retailers Association and most recently chairman of the Larne Traders’ Forum.

“I don’t have any problem with that and I think that in today’s enviroment that is perfectly understandable.

“However, I think that what they have failed to do is to think through the consequences of their actions completely through.”

In his case he said his site was bought and tenders invited when his own branch of the First Trust Bank offered to help finance the project.

“‘You’ve a good track record with us and you’ve banked with us for a long time,’ they told me. ‘We’ll support you to do the project on your own’.

“We arranged the heads of terms where two blocks of money were to be released. Basically there was one half-way through the project and one at the end.”

The build progressed well and in September last year the first block of the loan was downloaded.