Dáil Éireann Debate, Tuesday - 21 May 2013
293. Deputy Bernard J. Durkan asked the Minister for Finance in the context of foreclosures by lending agencies in each of the past four years to date, the number of instances in respect of which the property or business was in negative equity; the number of instances where the property or business was known not to have been in negative equity; and if he will make a statement on the matter. [24388/13]
View answer294. Deputy Bernard J. Durkan asked the Minister for Finance the total number of house repossessions recorded in each of the past four years to date; the number of such properties deemed to have been in negative equity at the time of repossession; and if he will make a statement on the matter. [24389/13]
View answer304. Deputy Bernard J. Durkan asked the Minister for Finance if known, the extent, to which lending agencies have insured against bad debt; the extent to which any such insurance has been monitored in the case of house or other property repossessions; and if he will make a statement on the matter. [24399/13]
View answerI propose to take Questions Nos. 293, 294 and 304 together.
The Central Bank has informed me that the number of PDH and buy-to-let properties taken into banks’ possession in each quarter since 2009 Q3 is available on the Central Bank’s website at http://www.centralbank.ie/polstats/stats/mortgagearrears/Pages/Data.aspx .
The Central Bank has also advised that it does not publish data on whether a property was in negative equity, or not in negative equity, at the time of repossession.
The Central Bank has also informed me that insurance against bad debts on credit portfolios is not the norm in the Republic of Ireland (ROI) market. The level of repossessions of houses has been very low in the ROI marketplace as evidenced by the CBI quarterly publication on Mortgage Arrears and Repossessions.
