Repossessions soar in Northern Ireland

Repossessions soar in Northern Ireland
By Laurie Osborne, Editor

in2perspective.com/nr/2006/0 … reland.jsp

Published 30th Jul 2006, (a Sunday) at 01:00PM

Home repossessions in Northern Ireland have jumped 60% in five years, according to the latest figures.

In the last year there were 2,600 cases of lenders seizing back property.

Ursula Toner from the Housing Rights Service said the escalation was due to people borrowing against their homes to pay off other debts.

“We unfortunately see a number of clients securing loans against their property,” she said.

"If you default on a secured loan you could be at risk of losing your home.

“I think there is a general issue within Northern Ireland of perhaps aggressive marketing tactics by lenders and perhaps people who are already in debt being targeted by such companies.”

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