There’s a crisis in the buy-to-let sector due to landlords falling into mortgage arrears and innocent tenants are getting caught in the chaos. Receivers have to realise people renting properties are not commodities, writes Bod Jordan.
The Dáil debated a Fianna Fáil-proposed private members’ motion on the mortgage arrears crisis tonight but it was easily defeated by the government’s majority.
AIB’s chief executive David Duffy – who the report shows was paid €546,000 last year – said that assisting mortgage customers in difficulty would be a “major priority for this year”.
The Finance Minister has dismissed a claim that as many as 35 per cent of mortgage arrears cases in Ireland are a result of strategic default where a borrower chooses not to pay their mortgage.
Buy-to-let borrowers signing the agreement are requested not to disclose any details of negotiations with the bank, including the fact that they are happening.
The Troika has raised concerns about the effectiveness of the new personal insolvency law that is aimed at helping the country’s many distressed mortgage holders.
Banks have still not recognised losses in full, says Davy Research, as it warns that mortgage arrears could rise from 13.5 per cent to as much as 18 per cent.
ONE OF AMERICA’S biggest child beauty pageant organisers is set to spend €20,000 staging their first-ever Irish contest in September.
The Herald reports today that beauty bosses said it will be open to “babies, toddlers and teens” and will also include a heat with kids in swimwear.
Some parents believe that contests celebrates their children’s beauty, helps them learn about camaraderie and boosts their self-confidence. While others think that beauty pageants send out the wrong kind of message to children and that the costumes and make-up involved sexualises kids.
So, today we would like to know: Would you enter your child in a beauty pageant?
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