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17/08/2012
Over 50% Of Mortgages In Arrears
Over 50% of Irish mortgages are in negative equity, according to Davy stockbrokers.
In an analysis of the mortgage arrears situation, Davy has forecast that owner-occupier arrears will peak at 16.5% from a level of 13.4% in the first quarter of this year.
The stockbrokers said that banks need to move beyond short-term mortgage measures.
Adding that they need to take serious action about writedowns and repossessions, particularly in the buy-to-let market.
A key factor for people falling behind in their mortgage repayments has been highlighted as labour market developments.
Davy stated: "Falling employment and rising long-term unemployment has reduced households' ability to pay."
(H)
In an analysis of the mortgage arrears situation, Davy has forecast that owner-occupier arrears will peak at 16.5% from a level of 13.4% in the first quarter of this year.
The stockbrokers said that banks need to move beyond short-term mortgage measures.
Adding that they need to take serious action about writedowns and repossessions, particularly in the buy-to-let market.
A key factor for people falling behind in their mortgage repayments has been highlighted as labour market developments.
Davy stated: "Falling employment and rising long-term unemployment has reduced households' ability to pay."
(H)
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One in 20 Irish mortgages have been in arrears for over 90 days according to figures from the Central Bank today. The worrying data shows 40,472 mortgages were in arrears for over the 90 days period at the end of September over double that of last year's figure.
24 March 2015
FF Call On Central Bank To Directly Engage With Mortgage Providers
The Central Bank has been urged to engage directly with mortgage providers in an effort to secure a reduction in the standard variable rate. Making the call Fianna Fáil finance spokesperson Michael McGrath said that "it is clear that there is a wide and growing disparity with existing customers on SVRs very much at the bottom of the pile.
FF Call On Central Bank To Directly Engage With Mortgage Providers
The Central Bank has been urged to engage directly with mortgage providers in an effort to secure a reduction in the standard variable rate. Making the call Fianna Fáil finance spokesperson Michael McGrath said that "it is clear that there is a wide and growing disparity with existing customers on SVRs very much at the bottom of the pile.
08 November 2012
Increase In Number Of Mortgages Issued
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Increase In Number Of Mortgages Issued
The number of new mortgages issued in Q3 2012 represents an increase of 23.5% compared with the previous quarter and an increase of 10.4% compared with Q3 2011, according to The IBF/PwC Mortgage Market Profile. This is the first year-on-year increase since Q3 2006.
23 August 2012
More Than A Fifth Of Mortgages Now In Difficulties
More than 123,000 mortgages are now behind in repayments, the Irish Times has reported. And Central Bank figures show that the number of borrowers missing mortgage repayments for 90 days or more increased in the three months to the end of June. The quarterly figures showed that a huge 10.9% of mortgages is now in arrears of 90 days or more.
More Than A Fifth Of Mortgages Now In Difficulties
More than 123,000 mortgages are now behind in repayments, the Irish Times has reported. And Central Bank figures show that the number of borrowers missing mortgage repayments for 90 days or more increased in the three months to the end of June. The quarterly figures showed that a huge 10.9% of mortgages is now in arrears of 90 days or more.
23 February 2018
Oireachtas Must Urgently Regulate 'Vulture Funds' - FF
The Oireachtas has been called to urgently regulate 'vulture funds'. Fianna Fáil Spokesperson on Finance Michael McGrath, made the call following a statement from Ulster Bank CEO Gerry Mallon that the bank may sell off up to 7,000 mortgages. Deputy McGrath said: "The case for full regulation of these vulture funds is compelling.
Oireachtas Must Urgently Regulate 'Vulture Funds' - FF
The Oireachtas has been called to urgently regulate 'vulture funds'. Fianna Fáil Spokesperson on Finance Michael McGrath, made the call following a statement from Ulster Bank CEO Gerry Mallon that the bank may sell off up to 7,000 mortgages. Deputy McGrath said: "The case for full regulation of these vulture funds is compelling.
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