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Inspired by recent hikes by both AIB and BoI in particular, I was wondering what people's views are on the banks plans to deal with what can surely only now be mounting arrears. I would particularly suspect that BTL arrears, already high, are bound to increase quite substantially given what have been very sudden and relatively high rate increases.
I can only assume that AIB/BoI have some sort of plan to tackle this, but seeing as they have shown themselves to be very reluctant to repossess, I assume they are gearing up to appoint rent receivers more aggressively to ensure any cash flow from the properties are directed fully to them. I may be giving them too much credit though.
Any views? What shape is the response to mounting arrears going to take?
Inspired by recent hikes by both AIB and BoI in particular, I was wondering what people's views are on the banks plans to deal with what can surely only now be mounting arrears. I would particularly suspect that BTL arrears, already high, are bound to increase quite substantially given what have been very sudden and relatively high rate increases.
I can only assume that AIB/BoI have some sort of plan to tackle this, but seeing as they have shown themselves to be very reluctant to repossess, I assume they are gearing up to appoint rent receivers more aggressively to ensure any cash flow from the properties are directed fully to them. I may be giving them too much credit though.
Any views? What shape is the response to mounting arrears going to take?