Shared ownership is quite recent but councils are stil administering small mortgages from the 1990s out of that lot.
As far as I know the NTMA finances these things with a mixture of long bond and commercial paper raising. The book is called the Housing Finance Agency.
Mysteriously the HFA balanced its books. It made a small profit on running the €4.4Bn book and INCREASED its reserves too…and by more than the small profit…according to the annual accounts audited by KPMG. 2Pack is fucked if he knows how they managed it.
They claim the average interest rate is 3.1%…possibly a weighed or blended average not a simple one… but maybe they charge you 6% if you do pay and 0% if you don’t…that should do the trick until 50% are in arrears which tipping point they probably reached now.
Anyone know what the commercial rates arrears are like. I have heard there were up to 600 cases in the last Dublin district Court list for commercial rates arrears. How many more are they making arrangements with before issuing proceedings?