Moody's Archives - MyHome.ie Advice & Blog

Irish banks urged to set aside more money to cover bad loans

Credit ratings agency Moody’s have warned that Irish banks will need to set aside much more money to cover potentially bad loans. The same warning was issued to lenders in Spain, Italy and Britain. In their global banking outlook for 2013, released today, Moody’s said:…

Mortgage defaults on the rise

Mortgages & Money

The number of Irish mortgages in default continues to rise, according to the latest analysis of statistics by ratings agency Moody’s. The performance of the Irish prime residential mortgage-backed securities (RMBS) market “steadily worsened” during the three months to October 2012, according to Moody’s. From…

Getting economy back on track and avoiding mass defaults is a difficult task to juggle

General, Home, Mortgages & Money, Property News

In last week’s Friday Feedback we discussed the possible impact of the property tax and Budget on people’s finances going into 2013. As part of that article we took a brief straw poll from people to get an idea of how they would be impacted…

Moody's expect debt forgiveness for unsustainable mortgages

Home, Mortgages & Money, Property News

International ratings agency Moody’s expects debt forgiveness to become the normal way to deal with unsustainable mortgage debt in Ireland. In a note issued yesterday, Moody’s said that once all other avenues were exhausted lenders would be left with little choice but to offer debt…

Quarter of all Irish mortgage debt susceptible to write-down

Mortgages & Money, Property News

A quarter of all Irish mortgage debt is susceptible to a write-down under proposals contained in the Personal Insolvency bill, it was claimed today. Ratings agency Moody's has rated the Government-proposed mortgage arrears Bill as credit negative for banks because many mortgage loans will be…

Central Bank expects 'upward trend' in mortgage arrears

Mortgages & Money, Property News

The Central Bank has warned that it expects an “upward trend” on mortgage arrears. The warning came from the bank’s head of consumer protection, who was speaking at an Irish Banking Federation event in Dublin this morning. Meanwhile, Allied Irish Bank has said that just…

One in 10 mortgages in arrears

Mortgages & Money, Property News

New figures have revealed that more than one in 10 Irish mortgages are in arrears. Another fifth of all mortgage holders are said to be having difficulties in meeting repayments, according to a report by credit ratings agency Moody’s. The figures highlight the pressure many…

House prices yet to bottom out, insist Moody's

Property News

HOUSE prices in Ireland haven’t bottomed out yet, according to credit ratings agency Moody’s. They made the statement in a report on Monday morning, which also said that Irish banks’ asset quality will likely weaken further as mortgage arrears rise. Their statement on house prices…