Business Property & Mortgages

Monday 26 September 2016

Banks seek 5,000 repossessions in courts

Published 08/05/2016 | 02:30

Figures from the country’s 26 circuit courts show lenders lodged 5,021 civil bills for repossession from January to December last year. Stock picture
Figures from the country’s 26 circuit courts show lenders lodged 5,021 civil bills for repossession from January to December last year. Stock picture

Banks have sought to repossess over 5,000 homes from people who failed to keep up with their mortgage repayments, latest figures from the Courts Service of Ireland reveal.

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Figures from the country's 26 circuit courts show lenders lodged 5,021 civil bills for repossession from January to December last year.

Some 81pc of the applications applied to primary homes, 2pc to buy-to-lets, with 16pc in the category of 'other' dwellings.

In total, 1,284 repossession orders were granted by the courts in 2015.

The data shows 918 were for primary homes, 148 were for buy-to-lets, and 218 for 'other' dwellings.

A spokesman for the Courts Service said that the making of an order for possession does not necessarily mean an applicant obtained possession of a property.

"It is a matter for the person or company who obtained the order for possession to pursue its execution," he added.

Figures for the number of civil bills lodged by lenders in the first quarter of this year have not yet been released.

Meanwhile, Central Bank figures published in March show the total number of mortgage accounts in arrears had fallen by the end of 2015, to 88,292. This accounts for about 12pc of all mortgage accounts for main homes in the State. Long-term arrears have fallen also.

Meanwhile, a significant number of all home mortgages, totalling 120,739 accounts, have been "restructured".

Sunday Independent

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