Banks attempt to repossess almost 4,500 homes

Banks attempt to repossess almost 4,500 homes

Banks have attempted to repossess nearly 4,500 homes since the beginning of 2015 according to new figures from the Courts Service of Ireland obtained by The Irish Times.

This figure is on top of the 7,100 dwellings lenders moved to repossess by January 1st this year.

The Court Service’s numbers indicate that lenders lodged 4,440 civil bills for repossession in the State’s 26 circuit courts.

About 3,638, or 82 per cent, of these concerned primary homes, while 89, only 2 per cent, were for buy-to-let properties.

Further, 713 – 16 per cent – were for “other” dwellings.

But the number of bills lodged is actually down on the same time last year which saw 6,420 lodged.

This may indicate a levelling off in banks’ repossession activity.

According to the data, 1,088 repossession orders were granted by the courts in the first nine months of this year – nearly 70 per cent more than the 644 granted in the same period in 2014 and, significantly, 350 per cent more than the mere 240 granted in that period in 2013.

Of those 1,088 orders, 758 related to primary homes, 199 to other dwellings and 131 concerned buy-to-lets.

Co Cork saw the highest number of repossession orders this year, with 153 made between January and September as compared with 38 in the same period in 2014 – an increase over over 300 per cent.

Of the 153, 37 were for other dwellings and 112 were for primary homes.

In Co Wexford, 78 repossession orders were made, up from last year’s 21. Of these, 39 were for primary homes, 34 for other dwellings and five were for buy-to-lets.

Last year in Co Wicklow there were 14 repossession orders. This year, to the end of September, there were 41.

In Co Meath there were 63 repossession orders, up from last year’s 32 in the same period.

Co Laois, meanwhile, also had 63 orders and just 29 in the same period last year. In Co Louth, 59 had 59 orders, up from 21 in the same period in 2014.

But the trend seems to be slowing in Dublin.

The capital saw 127 orders granted to the end of September compared with 148 in the same period last year.

Of the 127 so far this year, 86 were for primary homes, 21 for other dwelling and 20 were for buy-to-lets.

A Courts Service spokesman said the numbers did not necessarily relate to actual repossessions.

He said: “It is a matter for the person or company who obtained the order for possession to pursue its execution.

“Also, these cases are not the only circumstances in which a financial institution is foreclosing. The vast majority of mortgages contain a foreclosure clause which becomes operative, without the need for a court order, if there is any failure in payment of instalments.”

The courts have refused some 889 applications this year. This is in addition to cases that may have been struck out or withdrawn by lenders following voluntary arrangements made with borrowers.

Dublin saw the highest number of bills for repossession this year at 849, followed by Cork which had 367.

In third place was Meath with 349, followed by Galway, which had 307 and Kildare with 244.

Share icon
Share this article: