More than 30,000 homeowners threatened with repossession
THE main domestic banks are now threatening 31,000 homeowners with repossession, new figures from the Central Bank show.
And the banks have reached the end of the line with 17,000 of these mortgage holders and are at a more advanced stage of attempting to take possession of the homes.
Some of these people have already given up their homes voluntarily.
Loss of ownership has been put forward in one-third of all mortgage arrears resolutions concluded with private homeowners by the end of last year.
The figures, which set out how the banks have dealt with targets set for them by regulators, show just 46,000 of those in arrears on a residential home loan have had their mortgages restructured.
The data relates to mortgage arrears resolution targets (MART) set by the Central Bank for six domestic lenders – AIB, Bank of Ireland, Permanent TSB, Ulster Bank, ACC and KBC Bank.
The targets are no longer in place. Banks were allowed to count a threat to repossess as a “solution” under the targets.