The Central Bank’s Code of Conduct on Mortgage Arrears only applies to borrowers’ “primary residence”. That is defined by either the property ordinarily occupied by the borrower or the only property owned by the borrower within the state. Hence, if a borrower is residing elsewhere, and owns the property elsewhere, the Lender involved does not even have to apply the CCMA to that the property under that mortgage account and can take possession of it much more easily. Properties and borrowers concerned involving that bracket of properties are afforded much less protection as a result!
So I wouldn’t really say that leaving those properties vacant is in anyone’s best interest at all to be honest.
Agreed - by letting the issue linger on as long as they have they have actually exacerbated the human tragedy. Had there been a speedier default process in this country a lot of people would have been getting on with their lives and we’d probably have a better functioning housing market.
That’s not relevant. My point was how long is afforded after the court appearance.
But if you want to discuss the 9 years it took the original case even get to repossession stage for the “homeowner” to the 6 months for eviction of the tenants it hardly paints a much better picture does it?
I thought we were discussing the 12-24 months it takes to evict a non-paying tenant
I see you only want to discuss the notice given after the landlord spends 12-24 months pursuing the non-paying tenant through the RTB and the courts (ignoring any legal costs involved) to get a judgement in his favour.