COMMENT: It's time to act on buy-to-let loans
Richard Curran argues that banks have done far too little to address distressed buy-to-let mortgages, which they encouraged inexperienced investors to take on.
Figures from the Central Bank show just how utterly devastated nearly one in three buy-to-let mortgages are.
Anecdotal evidence of landlords in crisis, combined with overall figures for the mortgage market, have told us for some time that this particular segment of the market was a real problem.
The banks have lent €32 billion to landlords for buy-to-let properties and 29 per cent of those are more than three months in arrears.
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine