Belfast Telegraph

Rise in number of homes repossessed

More than 200 homes were repossessed during the second quarter of the year, official figures have revealed.

The Central Bank found 63 struggling mortgage holders had their home taken away from them on foot of a court order, while 160 were forced to voluntarily surrender or abandon their property.

As the number of households in mortgage arrears continues to spiral, the amount of repossessions increased significantly from 166 in the first three months of the year to a total of 223 during the second quarter.

The new figures revealed that 97,874 private households were at least three months behind with their mortgage repayments at the end of June.

That was up by more than 2,000 from the end of March, when 95,554 were in arrears of more than 90 days.

The figure represents nearly 13% of all residential mortgages.

Popular

From Belfast Telegraph