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Thursday 3 December 2020
The lowest number of mortgage arrears since 2010 was recorded in the first quarter of the year.
There are 2,800 home loans and 375 buy-to-let loans included in the portfolio.
Taoiseach has said it is now time for to review the tax treatment of vulture funds.
An Oireachtas committee yesterday heard legislation is needed to ensure banks cannot sell mortgages to vulture funds without a customer’s consent.
The Central Bank is aware that a regulated entity has written to a number of buy-to-let borrowers in arrears.
The Bill aims to broaden the matters a judge needs to take into account when considering repossessions.
Changes to the funding structure of the government’s mortgage arrears assistance scheme mean solicitors will have to show why they need a barrister for each case.
Just 30% of those who engaged with Abhaile’s financial advice have a solution in place or are on track for one.
People who are working every day with customers in arrears say lenders are still refusing to cooperate in any significant way.
Edmund Honohan urged the Fianna Fáil leader to support a piece of legislation he wrote that is currently before the Dáil.
Varadkar says he tried to remove split mortgage-holders from recent loan book sales but failed to do so.
KBC Ireland said it is taking additional measures to ensure the safety of its staff.
Dublin City Council tenants paid a total of €78.3 million in rent last year.
Unregulated loan owners hold 17% of all mortgages in arrears over 720 days.
The Central Bank said no sanctions have been put in place since the Code of Conduct on Mortgage Arrears commencement in 2009.
There has been a slowdown in the number of cases being issued, but it is unclear where exactly the situation stands now.
Brendan Burgess claims there is “no tsunami” of arrears cases now.
Just a month before the government announced a redress scheme for the thousands of impacted homeowners, Karl Murtagh was told his mortgage had been sold.
Minister Charlie Flanagan today praised the success of the Abhaile legal advice scheme, but did not indicate it would be extended to provide full representation.
The vulture fund that bought the loans has confirmed it is not currently putting forward cases for this scheme.
‘Mary’ has been out of work since her cancer diagnosis. She had no idea her mortgage was to be sold to a vulture fund.
The portfolio, worth €1.4 billion, is to be sold to Cerberus Capital Management LP.
The numbers are down on recent years but there still has been almost 300 cases initiated in the High Court.
The bill, written by the Master of the High Court Edmund Honohan, was introduced in the Dáil today.
The number of accounts in arrears over 720 days has fallen but these cases still account for 41% of all accounts in arrears.
This week Edmund Honohan again highlighted the need for a legal aid system in repossession cases.
Hall told the Finance Committee that a narrative has been fostered that people in long-term arrears are “messers”.
Executives blamed the European regulator for the classification of these loans as non-performing.
The bank recently announced it is to sell off a €3.7 billion portfolio of non-performing loans, including mortgages 14,000 private dwelling homes.
Ulster Bank said today that it would be looking to offload around 7,000 mortgages on top of PTSB’s proposed 18,000.
Master Honohan asked if it’s a “sick joke” that people writing to the Taoiseach were told to seek help from Abhaile.
The bill would give greater powers to the government’s Abhaile scheme and provide stronger protections for people who are in debt.
Legal and financial experts say there are ways they can help – especially if people come to them at an early stage.
More than 30,000 accounts have been in arrears for more than two years.
Edmund Honohan criticised the government for failing to deliver systems it had promised to help keep people in their homes.
Ten percent of home mortgage accounts in this country are in arrears.
Edmund Honohan: ‘What kind of a way is that for a bank to approach its customers?’
He fears such action would destroy his business, the High Court has heard.
The man’s food and rent bills have fallen into arrears by almost €2,000.
€588 million worth of insolvency applications were made between April and June this year.
THIS YEAR HAS given us a lot of unexpected things, but one of the bigger cultural changes of 2020 has been the wide-scale move to working from home.
Writing in TheJournal.ie today, Arlene Vithaldas of the UCC Academy argues that it’s time for society to change its view of a workplace that includes commuting to offices.
Some people have found that working from home has given them more time, because they don’t have to commute both ways or end up getting stuck in the office after hours.
However, others miss the collaborative nature and social aspect of being in the office, as well as the chance to regularly be in urban centres where offices tend to be located.
Today we’re asking: Do you enjoy working remotely?
Poll Results:
Share your story: voices@thejournal.ie
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