Mortgage debt continues to grow

Mortgage is a new challenge for Ireland

In brief: Total outstanding mortgage loans in glorious Ireland continues to grow steadily, the government does not know what action to take.

In I quarter of the total outstanding mortgage borrowers in Ireland reached € 6,1 billion is 13% more than in the previous quarter. As I quarter the amount of mortgage loans overdue for three months or more, accounted for 4% of the total value of loans for six months or more – 2,8%.

At the same time, the number of lawsuits for the return of loans, filed by Irish banks, declined in January-March at 30,9%. This trend may reflect bank policy: according to the Irish Bankers Association, many lending institutions are going to meet the debtor, offering them a more lenient repayment scheme. Recall that last year’s mortgage lending had fallen by almost 50%.

Ukrainian Globalist
2010-05-29 08:55, Economics.

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