Half of shared ownership mortgages in arrears
Across 15 local authorities that provided figures, the average rate of distressed debt among the loans advanced by county and city councils is 44 per cent
Almost nine out of ten loans in a government sub-prime mortgage scheme are under water in some parts of the country, a Sunday Business Post analysis has revealed.
The loans, which were originally advanced as part of a boomtime affordable housing plan called the Shared Ownership Scheme (SOS), become distressed at a rate four times higher than ordinary mortgages.
Across 15 local authorities that provided figures, the average rate of distressed debt among the loans...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
*New subscribers only
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team
Nadine O’Regan: Fresh female voices seize their moment
From Denise Chaila to Róisín Kiberd, brilliant Irish women are today at the forefront of our culture like never before
Emer McLysaght: How WhatsApp has given gossip a new lease of life
Almost overnight, voicenotes have replaced Netflix as the drama provider of choice
James McDermott: The grounds for our world sporting bids would not inspire confidence
The only way our joint bid with the British nations for the 2030 World Cup finals will succeed is if Fifa officials are kept well away from inspecting our run-down stadiums
Cathal Mac Coille: Like it or not, the Northern Ireland protocol is the only realistic option
British bad faith puts Ireland in a difficult, but not hopeless, position, and the case for a cooperative approach to the North remains as strong as ever