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Mortgage arrears 'on the rise' | Mortgage arrears 'on the rise' |
(about 4 hours later) | |
There has been a sharp rise in the number of people in Northern Ireland unable to pay their mortgage. | There has been a sharp rise in the number of people in Northern Ireland unable to pay their mortgage. |
A total of 929 writs and summonses were issued between April and June this year, according to the court service. | A total of 929 writs and summonses were issued between April and June this year, according to the court service. |
This was a rise of 59% from the same period last year, when 584 mortgage cases were received by the High Court. | This was a rise of 59% from the same period last year, when 584 mortgage cases were received by the High Court. |
The figures cover both domestic and commercial properties. The court service said not all cases led to eviction or repossession. | The figures cover both domestic and commercial properties. The court service said not all cases led to eviction or repossession. |
A total of 323 court orders have been made for repossession between April and June this year. | |
The chairman of the Council of Mortgage Lenders in Northern Ireland, Trevor James, told BBC News that banks and building societies repossessed "absolutely as a last resort". | |
"If you are experiencing difficulties, the advice would be to contact your lender at the earliest opportunity," he said. | |
The writs included those from credit organisations who had offered homeowners loans or remortgaging deals. | |
Mr James said if a homeowner defaulted on the repayments, those companies took action quickly. |
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