Saturday September 19, 2020

Banks prepare for seizures of buy-to-lets

Lenders have assembled receivers for a new year crackdown, write Ian Kehoe and Jon Ihle.

16th December, 2012

Irish lenders are recruiting panels of insolvency and enforcement specialists ahead of a crackdown on distressed buy-to-let borrowers in the new year.

In an escalation of efforts to control the mortgage arrears problem, four financial institutions - including major mortgage lenders Bank of Ireland and Ulster Bank - are seeking tenders from insolvency practitioners to manage the expected stream of receiverships in the buy-to-let market.

The banks are putting together panels of specialists, which will...

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