Sunday May 31, 2020

Ian Guider on home repossessions: If people won’t pay, take it away

Repossession must be put back on the table if banks are to function normally

Ian Guider

Markets Editor

@ianguider
15th April, 2018

A couple of months ago, when Permanent TSB announced it was planning to offload a €3.7 billion portfolio of loans linked to 18,000 family homes and investment properties, the bank revealed that at least one mortgage customer was seven years in arrears.

I put that detail to a banker who had worked at an institution outside Ireland when asking how other countries dealt with arrears of that length. The answer I got was there was no...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Many of us have achieved a new life balance that might just be the real ‘new normal’

Sharyn McAndrew | 2 weeks ago

Property firms such as QRE are dealing with the coronavirus lockdown by trying to maintain some normality in their day-to-day business

Conor Whelan | 3 weeks ago

Hardline opposition to EU solidarity in funding the cost of Covid-19 is driven by German allergy to ‘imprudent’ spending, and by Dutch politicians fearing the transfer of funds to southern countries would provoke a far-right backlash

Barry J Whyte | 1 month ago