Dáil Éireann Debate, Wednesday - 5 November 2014
66. Deputy Bernard J. Durkan asked the Minister for Finance the number of home repossessions effected by the various lending agencies on a monthly basis over the past 12 months, excluding the unpaid loan books purchased by third parties, regulated or unregulated; the number of repossessions or voluntary surrenders effected by the latter; and if he will make a statement on the matter. [42361/14]
View answerThe Central Bank of Ireland publishes a Mortgage Arrears and Repossessions statistical series on a quarterly basis, available at http://www.centralbank.ie/polstats/stats/mortgagearrears/Pages/releases.aspx . As at end-Q2 2014, there were 1,274 residential properties in possession.
Further information, including historical figures on property repossessions, is available in the spreadsheet below. The historical data clearly shows that the majority of primary residence property repossessions are effected on a voluntary basis, without recourse to a court order.
The Central Bank has informed me that for reasons of confidentiality they are precluded from publishing data on the number of mortgages held by unregulated entities at this time.
|
Repossessions Statistics 2009 - 2014 |
||||||
|
PDH |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 end Jun |
|
Properties repossessed on foot of a court order |
58 |
102 |
196 |
194 |
251 |
143 |
|
Properties voluntarily surrendered / abandoned |
153 |
260 |
412 |
410 |
515 |
437 |
The Central Bank continues to engage with all mortgage lenders in relation to lenders' mortgage arrears resolution strategies and approaches to dealing with borrowers in or facing arrears. Early and effective engagement between borrowers and lenders is key to resolving the majority of cases of mortgage difficulty. Where there is effective and meaningful engagement by all parties regarding a mortgage difficulty, the data show that an increasing number of durable long term mortgage restructures can and are being put in place. This is a positive development for both the lenders and borrowers and is to be encouraged.
