Thursday, 5 March 2009

Repossessions still at a very low level

Guess how many houses were repossessed by the banks in 2008? One in every hundred mortgages? One in every thousand? Nope - 96 in total, or one in every 10,000 mortgages issued, according to figures released yesterday by the Irish Banking Federation.

While that's of cold comfort to you if you happen to be one of the 96, it does display that actual levels of repossessions in this country are low. The rate in the UK is 35 times higher.

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