Written answers

Tuesday, 31 March 2015

Department of Finance

Home Repossession Rate

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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281. To ask the Minister for Finance further to parliamentary question No. 280 of 24 March 2015, noting that the Central Bank of Ireland's residential mortgage arrears and repossessions statistics for 2014 state there were 11,424 proceedings issued in 2014 for the repossession of principal dwelling houses, the aggregate number by category, as opposed to individual institution, of those 11,424 proceedings: category 1 - Permanent TSB, Allied Irish Banks, Educational Building Society and the Irish Bank Resolution Corporation; and category 2 - all other institutions; and if he will make a statement on the matter. [13340/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am informed by the Central Bank that 'Court Proceedings issued' means that a formal application has been made to a Court to begin repossession proceedings or that Court proceedings are currently ongoing. Cases counted under this heading include:

- cases where an application has been made to Court but a Court date has not yet been received;

- cases where Court proceedings have issued but have not been served;

- cases which have been adjourned for a specific period, e.g., 12 months.

The Deputy should be aware that the CBI figures relate to the number of mortgage accounts, unlike the Courts Service figures which relate to the number of Civil Bills for Possession issued. 

Some properties are have multiple mortgages which accounts for the larger number of legal proceedings reported by the CBI.

It is also important to note in relation to the number of Court proceedings issued that it is not the case that all Civil Bills for Possession issued will inevitably lead to Possession Bills being granted by the Courts, as many cases will be withdrawn at the request of either the lender or the borrower.

In relation to the further breakdown of the proceedings issued statistic, I am informed by the Central Bank that it is not possible to provide statistics on this basis. To provide information on this disaggregated basis may allow particular institutions to be identified. This would be in breach of confidentiality rules around the compilation of these statistics. 

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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282. To ask the Minister for Finance further to parliamentary question No. 279 of 24 March 2015, noting that the Central Bank of Ireland residential mortgage arrears and repossessions statistics for 2014 state there were 11,424 proceedings issued in 2014 for the repossession of principal dwelling houses, the number of those 11,424 proceedings relating to principal dwelling houses in each county, presented in tabular form; and if he will make a statement on the matter. [13341/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The Central Bank of Ireland Residential Mortgage Arrears and Repossessions Statistics over the course of the four quarters of 2014 reported that proceedings were issued to enforce the debt/security on a PDH mortgage in 11,424 cases in the year. This includes:

- cases where an application has been made to Court but a Court date has not yet been received;

- cases where Court proceedings have issued but have not been served;

- cases which have been adjourned for a specific period, e.g., 12 months.

I have been informed by the Central Bank that it does not publish these statistics on a County level basis.  It is not, therefore, possible to provide the breakdown requested by the Deputy.

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