Oireachtas Joint and Select Committees

Tuesday, 8 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process: (Resumed) Ulster Bank

3:40 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

Basically, as far as the bank is concerned, the criterion is the lease. Could the delegates tell me a little more? If I am reading the figures correctly, 2,675 buy-to-let properties are in arrears. I calculate that in the case of 1,600 of these, letters have been issued relating to rent-receiver or legal proceedings of some kind. This amounts to two thirds of the buy-to-let properties. The tenants could face the possibility of eviction relatively soon.

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