Board index » The IRISH PROPERTY BUBBLE » Sell, Buy or Rent?

Post new topic Reply to topic  [ 107 posts ]  [Go to page]   1, 2, 3, 4, 5 ... 11  Next
Author Message
 Post subject: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 1:32 pm 
Offline
Of Systemic Importance
User avatar

Joined: Aug 20, 2009
Posts: 5210
We have a thread for Residential Mortgages here
viewtopic.php?f=10&t=44532&start=90

So now we have one for BTLs.

BTL Mortgage Arrears, Restructures and Repossessions

Q3 2012 figures out today for BTLs for the first time.
http://www.centralbank.ie/polstats/stat ... istics.pdf

Outstanding:
Total BTL mortgage loan accounts outstanding - at end of Q3 2012 149,952 (Q2 2012 150,187)

Arrears:
Total BTL mortgage arrears cases outstanding - at end of Q3 2012 which are:
- In arrears 91 to 180 days 4,942 (Q2 2012 5,039)
- In arrears over 180 days 21,828 (Q2 2012 19,840)
of which
- In arrears 181 to 360 days 6,976 (Q2 2012 Not provided)
- In arrears 261 to 720 days 8,224 (Q2 2012 Not provided)
- In arrears over 720 days 6,628 (Q2 2012 Not provided)

Total BTL arrears cases over 90 days outstanding 26,770 (Q2 2012 24,879)
% of loan accounts in arrears for more than 90 days 17.9% (Q2 2012 16.6%)

Repossesions:
BTL properties in possession - at end of Q3 2012 414 (Q2 2012 378)

- of which BTL properties repossessed on foot of an Order to date in 2012 Not provided
(Q1 Unknown, Q2 Unknown, Q3 28)
- of which Residential properties repossessed on foot of an Order in 2011 Not provided

- of which Residential properties voluntarily surrendered/abandoned to date in 2012 Not provided
(Q1 Unknown, Q2 Unknown, Q3 46)
- of which Residential properties voluntarily surrendered/abandoned in 2011 Not provided

Restructured Mortgages:
Total outstanding classified as restructured - at end of Q3 2012 22,553 (Q2 2012 21,671)
- of which are not in arrears 14,275 or 63.3% (Q2 2012 11,088 or 51.2%)


So we can see:
1. Arrears jumped from 16.6% to 17.9%
2. Restructured mortgages, NOT in arrears, jumped from 51.2% to 63.3%


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 1:38 pm 
Offline
Of Systemic Importance

Joined: Dec 28, 2006
Posts: 5579
"Restructured mortgages, NOT in arrears, jumped from 51.2% to 63.3%"
By restructured I'd guess they'd mean mostly given an interest free loan period.
I know of some who have an interest free loan period coming to an end very soon.
That 17.9% figure is going to balloon to over 30% very quickly.


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 1:49 pm 
Offline
Under CAB Investigation
User avatar

Joined: Oct 17, 2007
Posts: 2179
Pardon my simplistic view on this .... but are we seeing only 18.8% of BTL not being either restructure or in arrears?

so under 20% of BTL mortgages are not showing some sign of being in trouble?

No wonder they are trying to keep my fucking rent inflated!


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 1:57 pm 
Offline
Of Systemic Importance
User avatar

Joined: Aug 20, 2009
Posts: 5210
magoko101 wrote:
Pardon my simplistic view on this .... but are we seeing only 18.8% of BTL not being either restructure or in arrears?

so under 20% of BTL mortgages are not showing some sign of being in trouble?

No wonder they are trying to keep my fucking rent inflated!


I see where you'd think that but it's 63.3% of restructured loans not in arrears, not 63.3% of all BTLs.

But to calculate the true figure

26,770 (or 17.9% of all BTLs) in arrears over 90 days +

22,553 (15.0% of all BTLs) restructured =

32.9% of all BTLs in trouble of some sort


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 1:59 pm 
Offline
Nationalised
User avatar

Joined: Feb 9, 2010
Posts: 9020
magoko101 wrote:
Pardon my simplistic view on this .... but are we seeing only 18.8% of BTL not being either restructure or in arrears?

Nope, the 'restructured, not in arrears figure' refers to the 22.5k of restructured mortgages only.


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 2:06 pm 
Offline
Too Big to Fail
User avatar

Joined: Jun 28, 2008
Posts: 4532
Thanks for number crunching Jack.

Is there a figure for in arrears 1-89 days?


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 2:10 pm 
Offline
Under CAB Investigation
User avatar

Joined: Oct 17, 2007
Posts: 2179
Thanks folks.... my blood pressure can now drop down a smidgen :-)


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 2:12 pm 
Offline
Of Systemic Importance
User avatar

Joined: Aug 20, 2009
Posts: 5210
Larry wrote:
Thanks for number crunching Jack.

Is there a figure for in arrears 1-89 days?


Yes. Didn't put it in as 90 days+ is the standard point after which a mortgage is in 'trouble'.

Figure is

In arrears up to 90 days Q3 2012 9,919 (or 6.6% of all BTLs) compared to Q2 2012 9,840 (or 6.6% of all BTLs )


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Dec 13, 2012 2:17 pm 
Offline
Of Systemic Importance
User avatar

Joined: Aug 20, 2009
Posts: 5210
dipole wrote:
"Restructured mortgages, NOT in arrears, jumped from 51.2% to 63.3%"
By restructured I'd guess they'd mean mostly given an interest free loan period.I know of some who have an interest free loan period coming to an end very soon.
That 17.9% figure is going to balloon to over 30% very quickly.


Yes, 13,123 of 22,553 restructures in Q3 2012 were for an Interest Only period.


Top
 Profile  
 
 Post subject: Re: BTL Mortgage Arrears, Restructures and Repossessions
PostPosted: Thu Mar 07, 2013 1:12 pm 
Offline
Of Systemic Importance
User avatar

Joined: Aug 20, 2009
Posts: 5210
BTL Mortgage Arrears, Restructures and Repossessions Q4 2012 figures are out today
(note: analysis below includes a lot of restated Q3 figures)

http://www.centralbank.ie/polstats/stat ... istics.pdf

(We also have a thread for latest Residential Mortgages figures here)
viewtopic.php?f=10&t=44532&p=687306#p687306

Outstanding:
Total BTL mortgage loan accounts outstanding - at end of Q4 2012 150,344 (Q3 2012 150,544)

Arrears:
Total BTL mortgage arrears cases outstanding - at end of Q4 2012 which are:
- In arrears up to 90 days 9,534 (Q3 2012 9,617)
- In arrears 91 to 180 days 4,762 (Q3 2012 4,986)
- In arrears over 180 days 23,659 (Q3 2012 22,032)
of which
- In arrears 181 to 360 days 6,830 (Q3 2012 7,043)
- In arrears 261 to 720 days 9,075 (Q2 2012 8,306)
- In arrears over 720 days 7,754 (Q2 2012 6,683)

Total BTL arrears cases over 90 days outstanding 28,421 (Q3 2012 27,018)
% of loan accounts in arrears for more than 90 days 18.9% (Q3 2012 17.9%)

Repossessions:
BTL properties in possession - at end of Q4 2012 454 (Q3 2012 414)

- of which BTL properties repossessed on foot of an Order to date in 2012 Not provided
(Q1 Unknown, Q2 Unknown, Q3 28, Q4 22)
- of which Residential properties repossessed on foot of an Order in 2011 Not provided

- of which Residential properties voluntarily surrendered/abandoned to date in 2012 Not provided
(Q1 Unknown, Q2 Unknown, Q3 46, Q4 66)
- of which Residential properties voluntarily surrendered/abandoned in 2011 Not provided

Restructured Mortgages:
Total outstanding classified as restructured - at end of Q4 2012 21,800 (Q3 2012 22,182)
- of which are not in arrears 13,469 or 61.8% (Q3 2012 14,023 or 63.2%)


So we can see:
1. Arrears jumped from 17.9% Q3 to 18.9% Q4
2. Restructured mortgages, NOT in arrears, fell from 63.2% Q3 to 61.8% Q4
3. 28,421 (18.9% of all BTLs) in arrears over 90 days + 21,800 (14.5% of all BTLs) restructured =
33.4% of all BTLs in trouble of some sort


Top
 Profile  
 



Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 107 posts ]  [Go to page]   1, 2, 3, 4, 5 ... 11  Next

    Board index » The IRISH PROPERTY BUBBLE » Sell, Buy or Rent?

Who is online

Users browsing this forum: Google Adsense [Bot] and 5 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Follow, Retweet @dailypinster



Pyramid Built, Is Better Built! - Latest Property Discussions www.thepropertypin.com