Rising repossessions

The most recent Central Bank statistics for the fourth quarter of 2016 show that the number of mortgage accounts for principal dwelling houses in arrears remain high. 77,493 accounts are in arrears, while 33,447 are in arrears of more than 720 days.

During the fourth quarter of 2016, legal proceedings were issued to enforce the debt/security on a principal dwelling house mortgage in 1,397 cases. A total of 455 properties were taken into possession by lenders during the quarter, the highest recorded since the series began.

Options available

Clients most likely to face repossession of the family home are also likely to have difficulty providing for their accommodation needs from their own resources. Therefore, solicitors should be familiar with the social-housing-support options available, and how to access them.                       

Solicitors should also remember that, if their client is in mortgage arrears, they do not need to wait until a court has made an order for possession (or until they have voluntarily sold or surrendered their home) before applying for social housing support.

Rose Wall is the CEO of Community Law & Mediation, an organisation that provides a range of free services to communities in north Dublin and Limerick, including free legal advice and representation in housing and debt law. Writing in the Gazette, she offers a timely reminder of the supports available for clients who may be facing homelessness – and guidance for solicitors advising them.

• Read the full article in the June 2017 Gazette

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