Brendan Burgess
Founder
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It appears that Tanager are simply refusing to restructure mortgages. They tell people to either clear the arrears or sell the property.
But, in total, 26% of non-bank mortgages on family homes have been restructured. Of course, they may have bought loans which had already been restructured.
Brendan
Michael McGrath asked the Minister the following question.
QUESTION
To ask the Minister for Finance the number of mortgage restructures by restructure type for both PDH and BTL mortgages, in tabular form; the number under each restructure type restructured by regulated financial institutions, retail credit firms and unregulated loan owners; and if he will make a statement on the matter.
REPLY
I am informed by the Central Bank that their Residential Mortgage Arrears and Repossessions Statistics show that at end-June 2017, 120,398 PDH mortgage accounts were restructured.
The breakdown by entity type is as follows: Banks 111,156 accounts, Retail Credit Firms 6,695 accounts and unregulated loan owners 2,547 accounts. Similarly, 23,623 BTL accounts were restructured at end-June. The breakdown by entity type is as follows: Banks 22,833 accounts, Retail Credit Firms 318 accounts and unregulated loan owners 472 accounts.
In addition to the above published statistics, please see below a further unpublished breakdown of restructures for PDH and BTL accounts. Given the small number of observations in some categories, it is not possible to provide the level of detail requested. However, the Statistics Division within the Central Bank is currently reviewing the breakdowns published, with a view to expanding coverage in the New Year, subject to confidentiality measures.
But, in total, 26% of non-bank mortgages on family homes have been restructured. Of course, they may have bought loans which had already been restructured.
Brendan
Michael McGrath asked the Minister the following question.
QUESTION
To ask the Minister for Finance the number of mortgage restructures by restructure type for both PDH and BTL mortgages, in tabular form; the number under each restructure type restructured by regulated financial institutions, retail credit firms and unregulated loan owners; and if he will make a statement on the matter.
REPLY
I am informed by the Central Bank that their Residential Mortgage Arrears and Repossessions Statistics show that at end-June 2017, 120,398 PDH mortgage accounts were restructured.
The breakdown by entity type is as follows: Banks 111,156 accounts, Retail Credit Firms 6,695 accounts and unregulated loan owners 2,547 accounts. Similarly, 23,623 BTL accounts were restructured at end-June. The breakdown by entity type is as follows: Banks 22,833 accounts, Retail Credit Firms 318 accounts and unregulated loan owners 472 accounts.
In addition to the above published statistics, please see below a further unpublished breakdown of restructures for PDH and BTL accounts. Given the small number of observations in some categories, it is not possible to provide the level of detail requested. However, the Statistics Division within the Central Bank is currently reviewing the breakdowns published, with a view to expanding coverage in the New Year, subject to confidentiality measures.
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