Saturday June 6, 2020

Legal advice body warns of repossessions epidemic

Government urged to revisit mortgage-to-rent scheme

22nd January, 2017
Senior Flac analyst Paul Joyce

The Free Legal Advice Centres (Flac) is warning 2017 may be the year of housing repossessions unless dramatic action is taken to assist distressed mortgage borrowers.

With the most recent figures from the Central Bank showing around 34,500 accounts in arrears for more than two years, senior Flac analyst Paul Joyce said financial institutions appear to be increasing their legal firepower to “put the pressure on” debtors.

“The mood music is that some lenders are...

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