Govt to close loophole which stopped banks from repossessing homes

The Government is moving to close a loophole which stopped banks from repossessing homes.

Govt to close loophole which stopped banks from repossessing homes

The Government is moving to close a loophole which stopped banks from repossessing homes.

It has agreed to make the change as part of the latest review of the Troika bailout.

The decision has raised the prospect of a wave of house repossessions in the New Year.

Karl Deeter from Irish Mortgage Brokers explained how the loophole came about: "There was a change in the way that property is bought and sold, called conveyancing and that happened in 2009.

"When they changed the law, there was an aspect that meant banks could no longer repossess houses. The Troika want it reversed and the truth is the government want it reversed as well."

more courts articles

Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van
Man in court over alleged false imprisonment of woman Man in court over alleged false imprisonment of woman
Coronation Street actor William Roache (91) given three months to settle tax debt Coronation Street actor William Roache (91) given three months to settle tax debt

More in this section

Government to introduce State contributory pension for carers Government to introduce State contributory pension for carers
Drug death in Cork Prison could be linked to nitazene opiate Drug death in Cork Prison could be linked to nitazene opiate
Four people hospitalised following suspected arson at West Dublin home  Four people hospitalised following suspected arson at West Dublin home 
War_map
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited