Central Bank report on interest only mortgages


Yes, the banks have repeatedly stressed that most of the letters issued were to people who were not engaging. Some engage immediately and others resume full capital and interest payments. But many just keep their head firmly buried in the sand.
 
"The rental income exceeds the interest payment comfortably, so the only explanation is that they are strategic defaulters."

There are alternative explanations than "strategic defaulter".

Other property in Leitrim bringing in zero rent.
Lost job, no other income.
 

You're not quoting Brendan fully, he was talking about properties in Dublin where the rent is significantly exceeding the interest payments.

So why hasn't your Leitrim property been repossessed? Have you engaged with the Bank?
 
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