In cases of continued long-term noncooperation, the functioning of the legal system to ensure the realisation of collateral for lenders will continue to be critical to the effective functioning of the mortgage market for all Irish citizens, not just those in LTMA. It is important to emphasise, that it is never too late for borrowers to engage with their lenders.
Of the nearly ten thousand concluded PDH possession court proceedings,21 more than half (54%) have concluded without a possession order being granted, the majority of these cases (c.80%) being renegotiated, settled on other terms or with arrears cleared by the borrower.