split-mortgages Archives - MyHome.ie Advice & Blog

Mortgage arrears levels continue to fall

General, Home, Mortgages & Money, Property News

The number of mortgage accounts in arrears for more than 90 days declined by 4,516 at the end of May, according to new Department of Finance figures. The data show the number of accounts in arrears fell from 78,435 in the first quarter to 73,719…

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Progress being made on mortgage arrears settlements

General, Home, Mortgages & Money, Property News

Engagement between consumers and lenders led to 65,698 permanent mortgage restructures by the end of April, according to the latest figures from the Department of Finance. This is an increase of 3,633 accounts compared to the end of Q1 2014 and 20,521 accounts compared to…

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AIB considering slashing interest rates for some of those in arrears

General, Home, Mortgages & Money, Property News

AIB is considering slashing interest rates for some mortgage holders who are in arrears. The bank is examining the option of reducing interest rates for some homeowners as low as 0.5%. It is expected it would introduce the measure in the second quarter of this…

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New mortgage arrears data published

General, Home, Mortgages & Money, Property News

A new set of figures on mortgage arrears from the Department of Finance show that the most popular method of restructuring loans in arrears is to extend the term of the mortgage. 35% of permanent mortgage restructures are term extensions, while 22% are interest…

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35% of Ulster Bank customers in arrears are not engaging with the bank

General, Home, Mortgages & Money, Property News

Ulster Bank chief executive Jim Brown has said that people deliberately deciding not to pay their mortgages is "not fair". Mr Brown, addressing an Oireachtas Joint Committee on Finance, Public Expenditure and Reform, said that the bank's target is to be back in profit in…

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Rise in repossession predicted in Ireland by ratings agency Fitch

General, Home, Mortgages & Money, Property News

Fitch Ratings expects the number of repossessions to rise in Ireland following the enactment of the Land and Conveyancing Law Reform Act. However, it adds that the Act will also create “incentives for lenders and borrowers to agree longer-term alternative repayment arrangements”. These arrangements will likely…

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Call for split mortgages to be banned

General, Home, Mortgages & Money, Property News

Split mortgages with accruing interest are really no different to interest only extension periods and should be banned, according to the Association of Expert Mortgage Advisors (AEMA). It wants them outlawed because, the AEMA say, there is a distinct possibility that they are misleading the…

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Honohan wants banks to "flesh out" split mortgages

General, Home, Mortgages & Money, Property News

The Central Bank Governor has said "imaginative design" of debt restructuring arrangements can help ensure that even insolvent homeowners do not lose their houses. He said the idea of a split mortgage which allows borrowers to service only a portion of their debt at least…

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Mortgage arrears continue to grow

General, Mortgages & Money, Property News

Mortgages arrears grew in the fourth quarter of 2012 at the slowest rate since figures on the issue began to be collected three years ago. The Central Bank said the proportion of residential mortgages in arrears for more than 90 days rose to 11.9%…

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