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Mortgage Arrears

Banks brought 2,300 legal proceedings against mortgage holders in Q3

The Free Legal Advice Centre says that some of the legal solutions offered to people in mortgage distress are “inexplicable”.

THERE WERE 107 homes repossessed in Ireland in the third quarter of 2013, with over 1,800 legal proceedings taken against homeowners.

Today’s figures on the mortgage arrears numbers in Ireland show that the number of accounts in arrears fell, 1,830 primary home cases had legal proceedings brought against them. 76 primary homes were repossessed.

361 cases were concluded in the quarter, with 89 of those receiving an order to repossess or sell the home. That brought to 1,050 the number of houses in the banks’ possession across the country.

In the buy-to-let sector, 502 court proceedings were undertaken, with 31 being repossessed.

The number of buy-to-let residential properties owned by banks has also increased in the third quarter, up from 502 to 516.

Noeline Blackwell of the Free Legal Aid Centre (FLAC) said that homeowners are being offered “inexplicable” legal solutions.

“On a daily basis, FLAC continues to get calls to its phone line and centres from people who are being offered solutions that often seem inexplicable to them.”

Read: Number of mortgage accounts in arrears FELL last quarter

Read: Dublin property prices up 15 per cent as rest of country shows some positive signs

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