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.

28th November, 2012
COMMENT: It's time to act on buy-to-let loans
Richard Curran: People who could have got by nicely on one mortgage were enticed into supplementing their income with rent and building a personal portfolio of properties.

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.

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