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29% of buy to let mortgages are more than three months in arrears


kkkkkkkkkk

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Joined
May 2, 2011
Messages
1,641
Mortgage arrears on buy-to-let properties hit 29% - RTÉ News


The banks have lent €32 billion to landlords for buy-to-let properties, but 29% of those mortgages are more than three months in arrears.

That is almost twice the 14.7% arrears rate for owner occupied properties.


where will this mess end
the banks gave out these second and third mortgages to people in this country
they have a lot to answer for
and still ex executives get pensions of 500k, even after presiding over these mortgages
we are a very ignorant people
we deserve what we get
 

Ribeye

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Jul 12, 2011
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26,306
It's much much worse than that,

Those numbers have have been blanched and then sautéed in butter,

"truth is treason in the empire of lies"

:):):):)
 

thegregster

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Mar 13, 2012
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3,350
The Banks should be reposing. This will further reduce house prices to realistic levels. About an average price of 90k nationally and then people can start buying houses to live in them.

Problem solved.
 

Crazy horse 6

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Dec 15, 2011
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13,515
The Banks should be reposing. This will further reduce house prices to realistic levels. About an average price of 90k nationally and then people can start buying houses to live in them.

Problem solved.

Totally agree. It's about time prices starting dropping to realistic levels. The charade has to stop.
 

Aindriu

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8,702
The Banks should be reposing. This will further reduce house prices to realistic levels. About an average price of 90k nationally and then people can start buying houses to live in them.

Problem solved.
As long as the banks then protect the incumbent tenants I would agree. Hopefully, my landlord will be one of them!
 

Watcher2

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May 2, 2010
Messages
34,133
Reposessions need to occur on a wholesale level. These are not the family homes of the landlords and should therefore be no excuse. The owners should be chased for as much as the banks can get. Many buy to let mortgages were given to people for the purposes of fulfilling their greed. The hens should come home to roost.
 

Ribeye

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26,306
The Banks should be reposing. This will further reduce house prices to realistic levels. About an average price of 90k nationally and then people can start buying houses to live in them.

Problem solved.
Letting market forces bring prices down to the clearing level,

Mmmm, why won't they let it happen,

http://www.politics.ie/forum/oireachtas/201195-13-ministers-claimed-tax-break-second-home-kenny-wont-say-who.html

Jan O'Sullivan wants to pay to bulldoze unfinished estates instead of just selling them for a pittence and letting builders finish them off and sell them at very low prices,

I wonder why?

"must restrict supply, keep prices high"

It's not going to work btw, massive collapse in property prices ahead, can't say when, but you'll know it when ye see it:)
 

thegregster

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Mar 13, 2012
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3,350
As long as the banks then protect the incumbent tenants I would agree. Hopefully, my landlord will be one of them!
Think they will be happy enough to keep the tenants. There wont be people queuing up around the block. It isnt 2006 anymore.
 

Analyzer

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Feb 14, 2011
Messages
46,201
The banks have lent €32 billion to landlords for buy-to-let properties, but 29% of those mortgages are more than three months in arrears.
That is almost twice the 14.7% arrears rate for owner occupied properties.

where will this mess end ?
the banks gave out these second and third mortgages to people in this country
they have a lot to answer for
and still ex executives get pensions of 500k, even after presiding over these mortgages
we are a very ignorant people
we deserve what we get
So what. The important thing is that the private sector failed bank bondholders have confidence in the Irish taxpayer.

By the way, I hope all those people with the mortgage arrears are willing to take tax rises/welfare cuts to sustain the confidence of the said gamblers holding Seanie Bonds !!!

It would be travesty were it not to continue. I mean things could get serious. Fat Plutocrats alike Suds and donkeylaffs might even be forced to take their anger onto paper, and write op ed articles of encouragement in THISH!TERIMES, informing people of the harm that would happen if they did not pay enough !!!!
 

Dan_Murphy

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Joined
Feb 22, 2010
Messages
3,811
Letting market forces bring prices down to the clearing level,

Mmmm, why won't they let it happen,

http://www.politics.ie/forum/oireachtas/201195-13-ministers-claimed-tax-break-second-home-kenny-wont-say-who.html

Jan O'Sullivan wants to pay to bulldoze unfinished estates instead of just selling them for a pittence and letting builders finish them off and sell them at very low prices,

I wonder why?

"must restrict supply, keep prices high"

It's not going to work btw, massive collapse in property prices ahead, can't say when, but you'll know it when ye see it:)
Its pretty disgusting isn't it? Its the one thing that would absolutely help the economy, and they are putting personal greed before national need. :(
 

MichaelR

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Jun 1, 2006
Messages
2,055
Agreed - banks should repossess BTL properties mercilessly. Family homes deserve certain protection, but not buy-to-let ones.
 

Ribeye

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Jul 12, 2011
Messages
26,306
Agreed - banks should repossess BTL properties mercilessly. Family homes deserve certain protection, but not buy-to-let ones.
It's not a question of being merciless, all they would have to do is declare all the loans non-recourse,

The sets of keys would come flying in,

And before someone shouts at me me about, "why should I have to pay off the balance"

You already have mate, but don't worry, coz Ireland will be defaulting on our national debt,

As will everyone else,

Why?

Because the world simply cannot pay it all off, ever,

It's all over baby, welcome to the end of the debt super cycle,

The Fed was created in 1913, what year is it next year?

Happy 100th birthday, now fck off and die:)
 

EndDiddlyaism

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Feb 15, 2011
Messages
647
Because the world simply cannot pay it all off, ever,
Agreed and this means that all pension & investment funds (which basically own everything) will be wiped out.

It's time to press the RESET button for the financial system.
 

Ribeye

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Jul 12, 2011
Messages
26,306
Agreed and this means that all pension & investment funds (which basically own everything) will be wiped out.

It's time to press the RESET button for the financial system.
Not All, but lots, the clever boys are hedged and will make a fortune as the collapse occurs,

But the RESET button will never be pushed, no matter how bad things get, the politicians will never kill their golden goose,

But the markets have a very large axe, and it's being sharpened as we speak!
 

Davidoff

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Joined
Oct 4, 2010
Messages
1,485
Mortgage arrears on buy-to-let properties hit 29% - RTÉ News


The banks have lent €32 billion to landlords for buy-to-let properties, but 29% of those mortgages are more than three months in arrears.

That is almost twice the 14.7% arrears rate for owner occupied properties.


where will this mess end
the banks gave out these second and third mortgages to people in this country
they have a lot to answer for
and still ex executives get pensions of 500k, even after presiding over these mortgages
we are a very ignorant people
we deserve what we get
And the crazy thing is that tenants are paying the rent in many of those properties, but the landlords are using the money for other things.

The dysfunctional nature of the Irish property market really is a wonder to behold.
 
D

Deleted member 17573

And the crazy thing is that tenants are paying the rent in many of those properties, but the landlords are using the money for other things.

The dysfunctional nature of the Irish property market really is a wonder to behold.
Not only are the landlords not paying their mortgages, they are in many cases hopelessly in arrears with the management fees. Not all, but many are simply playing games - knowing that they will never be able to meet the mortgages they are grabbing as much as they can from the rent before the banks move in on them. Time for the banks to make that move without further delay.
 

potholedogger

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Joined
Oct 17, 2012
Messages
1,238
Mortgage arrears on buy-to-let properties hit 29% - RTÉ News


The banks have lent €32 billion to landlords for buy-to-let properties, but 29% of those mortgages are more than three months in arrears.

That is almost twice the 14.7% arrears rate for owner occupied properties.


where will this mess end
the banks gave out these second and third mortgages to people in this country
they have a lot to answer for
and still ex executives get pensions of 500k, even after presiding over these mortgages
we are a very ignorant people
we deserve what we get
The banks know that existing buyers are more likely to pay them more than a firesale and a new buyer will for a given house.
 
D

Deleted member 17573

The banks know that existing buyers are more likely to pay them more than a firesale and a new buyer will for a given house.
They don't have to sell them until the market picks up - hand the management of the properties over to a large estate agent and take the rent.
 
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