Courts Service Annual Report shows 71% drop in possession proceedings in 4 years

[Brendan Burgess]

• Orders granted fell by 45%
• Execution orders granted fell by 48%
• 
  
• • This is despite the fact that the vulture funds have bought about 76,000 mortgages in recent years.
  • Irish borrowers are the best protected in the World
  • Irish borrowers pay the highest mortgage rates in the eurozone
• It’s going to take a long, long time to fill up Croke Park with homeless former mortgage holders.
  

  	Fall	2018	2017	2016	2015
  Proceedings started	71%	1433	3055	3679	5021
  Orders granted	45%	700	878	1088	1284
  Execution orders granted	48%	412	592	500	793

  
  Note that the Circuit Court cannot distinguish between family homes and buy to lets, so even these figures are somewhat overstated but not by much as most Buy to Lets are dealt with by appointing Receivers.
  Context
  

  Mortgages on family homes	c.600,000
  Mortgages restructured since 2009	c. 120,000
  Mortgages in arrears over 2 years at 31 March 2019	c.23,000
  Repossessed on foot of a court order according to Central Bank since 2009	3,142

  
  Sources
  Central Bank Quarterly Arrears Report
  
  Courts Service Annual Reports
  
  
  
  
  
  
  
  
• 
  
•