Repossession bids surge by one-third
THERE has been a sharp jump in the number of cases where banks are seeking the possession of homes and businesses.
In the first half of this year, the High Court has seen a jump of one-third in applications for possession orders, which are sought when someone has fallen into default on loan repayments.
Up to the end of June, there were 254 possession orders sought, compared to 187 in the first six months of 2007.
The orders can also be used to resolve the title of the land or premises.
Of the 254 orders sought, only 126 were granted. This is compared to just 59 in 2007.
- Shane Hickey
