Thursday 21 September 2017

Banks 'targeting homes with value'

BANKS stand accused of targeting the more "responsible" mortgage defaulters for repossessions.

Homeowners who have equity in their homes are more likely to be targeted for repossessions, according to New Beginning, which deals with 50 new repossession cases each month.

"We are in danger of creating a system in which those who are behaving themselves get the worst treatment and those who are behaving badly are apparently rewarded," said Ross Maguire of New Beginning.

A spokesperson for the Irish Banking Federation said: "Repossession is not about positive or negative equity – it's about a mortgage that has become totally unsustainable."

Irish Independent

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