Page 7 of the Central Bank of Ireland’s Residential Mortgage Arrears and Repossessions Statistics: Q4 2014 report, out today
A new report from the Central Bank, detailing figures in relation to Ireland’s residential mortgage arrears and repossessions for the last three months of 2014 is out.
It states the number of overall number of mortgage arrears cases fell by 7,523 over the period, while the number of mortgage arrears cases involving people who’ve been in arrears for over 720 days has risen by 294.
In relation to legal proceedings and repossessions, the Central Bank reports:
“During the fourth quarter of 2014, legal proceedings were issued to enforce the debt/security on a PDH [Private Dwelling House] mortgage in 2,543 cases. Court proceedings concluded in 721 cases during the quarter, and in 314 of these cases the Courts granted an order for repossession or sale of the property.”
“There were 1,393 properties in the banks’ possession at the beginning of the quarter. A total of 429 properties were taken into possession by lenders during the quarter, of which 123 were repossessed on foot of a Court Order, while the remaining 306 were voluntarily surrendered or abandoned. During the quarter 222 properties were disposed of.”
“The number of properties in possession at the end of the quarter was also impacted by reclassification issues affecting 12 PDH accounts. These issues mainly reflect the reclassification of PDH accounts as BTL [Buy To Let] accounts. As a result, lenders were in possession of 1,588 PDH properties at end-December 2014.”
Previously: Meanwhile, In Limerick