Repossession threat might get payments on track
THE mortgage mess is about to come to a head. From today, banks will get back the power to repossess homes and residential investments from people they believe are not co-operating with them.
Minister for Justice Alan Shatter has just signed a statutory instrument that puts the provisions of the Land and Conveyancing Law Reform Act 2013 into operation.
Banks had been unable to threaten repossessions following a ruling in the High Court in 2011.