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As The Crash Continues In Roi Btl Landlords Pocket The Rent And Don't Pay The Mortgage


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http://www.independent.ie/national-news/landlords-pocket-rent-but-leave-loans-unpaid-2598196.html

Also some house buyers don't even pay the first month's mortgage and go into immediate arrears.

Let the ROI taxpayer take the hit you say. Unfortunately a lot of the BTL and residential loans were through Bank of Scotland (Ireland) and Ulster Bank (RBS) so we as UK taxpayers are taking the hit too.

Everything I have ever read about the Irish "Tiger Economy" - and the house "prices" there - well before the crash - I just sighed and pinched myself to check

1 - if I was dreaming;

2 - if I had a brain that felt a pinch;

3 - wondered aloud as to how it was only me that seemed to be clear that 1 + 1 = 2, and not 987,654,321.......

:rolleyes:

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http://www.independent.ie/national-news/landlords-pocket-rent-but-leave-loans-unpaid-2598196.html

Also some house buyers don't even pay the first month's mortgage and go into immediate arrears.

Let the ROI taxpayer take the hit you say. Unfortunately a lot of the BTL and residential loans were through Bank of Scotland (Ireland) and Ulster Bank (RBS) so we as UK taxpayers are taking the hit too.

Which is exactly what the uber BTLer's like Fergus and Judith will do. Deposit the money somewhere hot. offshore and out of reach and when the house of cards collapses they can skio the country and spend out their days rugging sun tan oil into each others backs...

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Which is exactly what the uber BTLer's like Fergus and Judith will do. Deposit the money somewhere hot. offshore and out of reach and when the house of cards collapses they can skio the country and spend out their days rugging sun tan oil into each others backs...

Providing they can get out before TSHTF, timing in that scam is everything.

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http://www.independe...id-2598196.html

Also some house buyers don't even pay the first month's mortgage and go into immediate arrears.

Let the ROI taxpayer take the hit you say. Unfortunately a lot of the BTL and residential loans were through Bank of Scotland (Ireland) and Ulster Bank (RBS) so we as UK taxpayers are taking the hit too.

this is what happens when the words "we must get bankers lending again" are uttered.

in order to comply the bankers must lend....and if they have a target to hit, hit it they must....and here is the result...further price support but not a valid borrower in site.

If this sort of behaviour goes viral, then there is not a thing anyone can do and the system breaks completely....

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http://www.independent.ie/national-news/landlords-pocket-rent-but-leave-loans-unpaid-2598196.html

Also some house buyers don't even pay the first month's mortgage and go into immediate arrears.

Let the ROI taxpayer take the hit you say. Unfortunately a lot of the BTL and residential loans were through Bank of Scotland (Ireland) and Ulster Bank (RBS) so we as UK taxpayers are taking the hit too.

"Moral hazard".

If banks are soft on repossessions, that is what will happen. Why pay the mortgage? "Rational" people will play the system, as they always do.

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http://www.independent.ie/national-news/landlords-pocket-rent-but-leave-loans-unpaid-2598196.html

Also some house buyers don't even pay the first month's mortgage and go into immediate arrears.

Let the ROI taxpayer take the hit you say. Unfortunately a lot of the BTL and residential loans were through Bank of Scotland (Ireland) and Ulster Bank (RBS) so we as UK taxpayers are taking the hit too.

:lol:

Wow, a free house! Thats what I call a house price crash!

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Providing they can get out before TSHTF, timing in that scam is everything.

Given the size of their portfolio it would only take a few months of pocketing the rent and defaulting on the mortgage to accumulate a sizeable 'Turkish Republic of Northern Cyprus' retirement fund.

Wouldn't surprise me if Old Fergus had sensed this in 2009 and has been creaming a few % off each month.

UK taxpayer will end up paying for his default on his mortgages. Fergus will live it up on a cyprus beach :angry:

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