Foreign mortgage lenders look to recover debt in the UK

[needle]

Interesting article picked up from HPC news ticker thing…

Wonder how much it applies to Ireland?

Foreign mortgage lenders look to recover debt in the UK

…by 2007, around 80% of *[holiday home]*buyers were financing their purchases using foreign mortgage markets, with deposits frequently obtained by remortgaging a home in the UK.

IC’s own research has reveals that in Bulgaria and Dubai prices have fallen by up to 75% and mortgages are no longer available.

EEOPs [European Enforcement Order for Payment] were introduced last year and can be used to place a charging order on UK assets or to pursue an attachment of earnings order.

Read on…

homemove.co.uk/news/31-08-2009/foreign-mortgage-lenders-look-to-recover-debt-in-the-uk.html