Friday, November 18, 2011

When is this going to happen in the UK

Irish mortgage arrears climb further in Q3

The number of Irish mortgages in arrears for more than 90 days grew 11 percent in the third quarter, figures showed on Friday, highlighting growing strains on the country's banks and adding to pressure for the government to help struggling borrowers. More than one in 10 Irish home loans are not being fully repaid and the situation is deteriorating as unemployment remains stubbornly high and house prices continue to fall.

Posted by mark @ 12:56 PM (1010 views)
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7 thoughts on “When is this going to happen in the UK

  • A friend of mine was recently working in Dublin on secondment for the mortgage services company she works for, apparently only one single property has ever been repossessed in Eire from arrears due to various domestic legal reasons, most savvy BTLers know this is the case, so simply don’t bother paying anything against their failed portfolio loans.

    Don’t quote this as gospel! It was a while ago I spoke to her so it could have been a single property on her loan book, either way it’s shameful state of affairs.

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  • The document, obtained by Reuters on Thursday, was produced by the Irish government at the request of the European Commission to give indications of what the government might do in the budget, Michael Noonan told state broadcaster RTE.

    “To put it quite bluntly, even though the government has made no decision, it is my intention to propose a 2 percent vat increase to take it from 21 to 23” percent, Noonan said.

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  • general congreve says:

    @1 – More tax on the productive part of the economy. Such a simple solution, why didn’t they do this before?

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  • Good good! by the time I move there I should be able to buy cash and have some change!

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  • so we have another mark now lol

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  • oopsy blonde moment that was me lol lol lol must stop taking those funny little pills

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  • For Ireland, maybe you’re thinking of the German Mark

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