New research from Davy Stockbrokers has found that a proportion of Irish mortgage holders are opting not to repay their loans by taking part in “strategic non-payment” of debt.
The report by Davy’s said that there is a new culture of homeowners who are avoiding their monthly repayments. They also said there was a possibility that the mortgage crisis will step up a notch in the coming months as more people deliberately avoid repayments.
Central Bank figures show there are a massive 12.3% of all mortgages in arrears of 90 days or more.
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