Local authorities have repossessed almost 700 homes after state-sponsored ‘subprime’ mortgages went into arrears, new figures show.
The homes were bought under the ‘shared ownership’ scheme, which allowed people who would otherwise struggle to afford a home to take out mortgages.
Of the 689 homes repossessed, 293 were forcibly taken from their owners, with 393 voluntarily surrendered.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team