Saturday April 4, 2020

Comment: Banks sitting on a €20 billion mortgage timebomb

Interest-only mortgages not just a problem for the individuals

29th November, 2015
"You can’t help but think there might be a little more pro-activity around the issue."

According to figures from the Banking & Payments Federation Ireland, between 2005 and 2007 there were just over 560,000 mortgages drawn down, with a total value of almost €108 billion. 2006 saw the largest amount being drawn, when the figures hit almost €40 billion.

To put that in perspective, in 2014 the total lending by banks was just under €4 billion for the entire year. From the second quarter of 2005 to the fourth quarter of 2007, the banks...

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