Noonan feels heat on BTL mortgages

Minister for Finance Michael Noonan and the government are coming under pressure to address the growing problem of arrears in buy-to-let mortgages.

13th October, 2012

Minister for Finance Michael Noonan and the government are coming under pressure from the banking industry and the opposition in Leinster House to address the growing problem of arrears in buy-to-let (BTL) mortgages.

The Central Bank has ordered lenders to start dealing decisively with the mortgage arrears problem using market-based approaches, but the banks say that they are prevented from enforcing security by a High Court judgment from more than a year ago.

That judgment,...

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