How long does it take to repossess a property?

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Sophrosyne

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There have been many posts across many threads alluding to a dilatory system of repossession in Ireland, in particular in relation to mortgage arrears and so-called “strategic defaulters”.

Is it any worse than other countries and if so what is the reason?
 
The stages are as follows in Ireland for someone who does not engage and wants to stay as long as possible. (Of course, most borrowers engage and get to stay in their homes)
1) A borrower goes into arrears
2) The lender must go through a Mortgage Arrears Resolution Process with them.
3) The lender usually spends a lot of time trying to get the borrower to engage
4) Eventually they write to the borrower telling them that they are not cooperating and that MARP no longer applies
5) The earliest that they can begin the legal process is 3 months after exiting MARP or 8 months after arrears first arose, whichever is the latest. The 8 months is pretty much irrelevant as the banks spend a lot of time trying to get the person to engage.
6) The solicitor writes to the borrower
7) The solicitor issues proceedings
8) The first court date is set - it is automatically adjourned on the first date.
9) The second court date is probably 3 to 6 months later. The borrower shows up and says he now has a job; his joint owner was not served with proceedings; Some step in the CCMA was missed and the case is adjourned for another 6 months. In 85% of cases the borrower does not show up, but the Registrar looks for a reason to adjourn the case e.g. "Check if there is anyone living in the property".
10)The lender might get an order for possession on the third or 4th hearing if the borrower is paying absolutely nothing.
11) A stay will be put on the execution of the repossession order for 6 to 8 months.

Other ways to frustrate the process
1) There is an internal appeals process within the bank
2) Appeal any decision to the Financial Services Ombudsman
3) When you are in the courts process itself, go to a PIP and apply for a PIA.

The cases we have seen recently in the courts where repossession orders were granted with a stay of 8 months, typically had last repayments of 2011. So based on these, it takes about 5 years to repossess a house.

I don't know what the figures are in the UK or other countries, but I gather that they are a lot shorter. In Denmark, there is an enforcement court to make sure that a borrower is out within 6 months. This makes sure that the bonds which finance the mortgage are safe and the interest rates are very low.
 
Brendan Burgess said:
Other ways to frustrate the process
1) There is an internal appeals process within the bank
2) Appeal any decision to the Financial Services Ombudsman
3) When you are in the courts process itself, go to a PIP and apply for a PIA.
Click to expand...

4) If a possession order is granted in the circuit court appeal the decision in the high court. Appeal must be lodged within 10 days of order being granted.
 
A lot of people who have lost their homes in England usually declare themselves bankrupt. A year later they exit bankruptcy with no albatross of debt around their neck for years.
 
Thanks for the link moneybox.

According to this article, the UK system seems broadly similar to ours.

I assume repossessions take 9 to 12 months provided there are no appeals.
 
My sources in Northern Ireland tell me that it currently takes about six months from the initiation of repossession proceedings by a lender to the granting of a possession order.
 
Thanks for that.

With similar systems it takes 6 months in the UK and up to 5 years in Ireland.

Does the problem here lie with the County Registrars?
 
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