There is no way that a repossession order should be granted where the account comes under the Central Bank tracker review
Why?
So if a borrower has made negligible payments for years they get a pass simply because their loan is included in the tracker review? That makes no sense to me.
A "negligible" payment might keep someone in their house . Interest only payments on a €350k loan at a tracker rate of 1% would be €292 per month. IO repayments on the same loan at 4.25% would be €1240.
Sorry Demoivre but you suggested that a defaulting borrower should be completely exempted from repossession proceedings solely because their mortgage was included in a tracker review.
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