Mortgage Crisis in the Republic of Ireland

Mortgages – Owner Occupiers >90 days in arrears with lender 83,250 (10.9%)
+
45,160 are missing one payment and are <90 days in arrears (5.9%) There are another 40,000 restructured mortgages – interest only or stretched repayments The total now is 16.8 % short on their mortgages.

40,000 buy-to-let properties (39%) are in mortgage arrears

Permanent TSB – 14.1% for all property loans >90 days in arrears

AIB 9.4% by volume and 12.9% by value are >90 days in arrears

Bank of Ireland 7% by volume and 9% by value are >90 days in arrears

Irish Nationwide 52% of owner occupiers and 58% of all property loans
are impaired.

Can you imagine what a property tax is going to do to this segment of society?

One thing for sure – most landlords cannot afford to reduce rents but
also most landlords cannot afford empty properties so the message to
tenants is – GET YOUR RENT REDUCED or move