Archive for April 2015

Number of ‘at risk’ homeowners looks set to quadruple

Loan Sale

The number of the most financially vulnerable homeowners in Northern Ireland could “quadruple” in the next three years, it has been claimed. Those in the so-called “double trigger” category could be “tipped over the edge” by a rise in interest rates or welfare cuts, according to Ursula Toner of the Housing Rights Service. And the…

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Ulster won’t write off debt for those who stay in home

Cerberus

Image Source: Irish Independent   Ulster Bank is on a collision course with the Government after it insisted it will not write off any mortgage debt for those unable to meet their repayments if they stay in the home. The admission came after the bank said it would write off mortgage debt for low-income families…

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State must grasp the loan arrears nettle

Bell & Company

Noeline Blackwell Image Source: Sunday Indo Business Throughout the crisis, the resolution of mortgage arrears has been blighted by the absence of independent oversight of lenders Taoiseach Enda Kenny recently promised a suite of new measures for those in trouble with mortgage arrears. Speculation is mounting that these are imminent. Existing policies have failed tens…

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70% of mortgage holders in arrears are long-term

financial trouble

Seven in 10 residential mortgage holders behind on their repayments are in long-term arrears — a third of which are grappling with a payment backlog of two years or more. Despite the latest Department of Finance mortgage arrears figures showing a slight improvement in the number of borrowers in arrears, the scale of the crisis…

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Europe tells PTSB to sell its high-risk mortgages

UK interest rates

At a fractious annual general meeting earlier this week, PTSB chairman Alan Cook said the bank is not yet profitable, and therefore cannot bring down prices for customers. An Irish bank has been told to reduce the number of its tracker mortgages in arrears, including by selling off the high-risk home loans. Bailed out lender…

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1,000 repossession cases listed in courts this week

repossession

Repossessions are expected to surge after the latest Central Bank figures revealed that the main banks were now threatening 31,000 homeowners with the loss of their properties. New figures show the threats to take homes off people make up 40pc of the “solutions” the banks are proposing as part of targets set for them by…

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