tag:blogger.com,1999:blog-2826531655042170344.post3577107682606396088..comments2024-03-26T11:29:52.986+00:00Comments on Economic Incentives: Repossession orders received by the Dublin City SheriffSeamushttp://www.blogger.com/profile/15679299530222667673noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2826531655042170344.post-49609749194637725592016-06-22T08:14:36.249+01:002016-06-22T08:14:36.249+01:00Hi Séamus
A very interesting piece of analysis.
...Hi Séamus<br /><br />A very interesting piece of analysis.<br /><br />The higher rate is due to the sub-prime nature of the original lending.<br /><br />"Shared ownership" is a complete misnomer. In fact, the buyer was taking out two mortgages - one with a lender and one with the local authority. In effect, they were borrowing at up to 10 times income. <br /><br />Even though they often got their homes at much reduced prices, it's not surprising that they have such high arrears and repossession levels. <br /><br />Given that they are "in the system" it's probably easier for them to get social housing after giving up their privately owned house. <br /><br />Brendan Burgess Anonymousnoreply@blogger.com