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STATE-OWNED LENDERS Anglo Irish Bank and Irish Nationwide have spent more than twice as much as their nearest rival on repossessing borrowers’ homes over the last two years.
Anglo and INBS – which were merged this year into the Irish Bank Resolution Corporation – paid out almost €4.2million in legal fees for house repossession cases between 2009 and the present.
The next highest spender, AIB, spent just over €2million, according to the figures released by the Department of Finance in response to a parliamentary question. AIB’s spending was almost four times that of Bank of Ireland, which paid around €535,000.
Bank of Ireland is the sole remaining major Irish bank that is not effectively nationalised.
The figures show that the four State-guaranteed lenders – the last being Irish Life & Permanent – spent almost €7million on legal fees for repossessions over the last two years.
Spending by Anglo and INBS peaked last year, when the two lenders spent more than €1.6million on legal fees to repossess borrowers’ properties. In 2009 the figure was close to €1.4million, while so far this year almost €1.2million has been spent.
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Give a man a gun and he can rob a bank, give a man a bank and he can rob the world.
Seriously lads. If you earn 40,000 a year and buy a house worth 450,000 what do you think is going to happen. I’m in the same boat as everyone else but wasn’t stupid enough to jump on the band wagon. I bought in the boom but looked for three years for a sensible property price. I don’t want to see anyone out of there homes but comments like all banks are scum… Point in fact maybe but not adding much to a serous problem. Make no mistake I don’t want my tax dollars going to bail out banks …. Or fools who spend to much. Nobody can keep a job all there life under any circumstances anymore, people bought thinking it would last for ever. Madness. people don’t like reality and by Christ it’s hitting home now. Hmmm 50 thumbs down in an hour I’d say
You’re right but the banks should have protected us from the fools.
Chuck in the majority of cases people bought homes they could afford and it’s not fair that anyone in mortgage difficulty keeps getting tarred with this ‘you overspent’ brush. There is a minority that spent above what their earnings could cover. You might have noticed that there’s recession on and the hundreds of thousands of people lost their jobs. The people I know that are in mortgage difficulty could well afford the homes they bought. After being in continuous employment for 20 years it’s hardly their fault that they’re now unemployed for the first time ever. There needs to be more help given to these people. The banks are getting away with murder.
Bank of thieves .should have closed years ago but looks like the TDs are the bondholders!
Chuck I know where your coming from, I got a small mortgage to refurb a house, but now I am 16 months out of work and 4 months in arrears, just waiting for the letter to arrive. Most of mates have gone to Oz, if I could afford it I would be gone myself, I don’t have kids but I really want to have some, but can’t afford it. I’ve spent more money writing cv’s than on food! Life should not be like this! Sure we borrowed a little, but Jesus Christ chuck no one saw this coming! I could not get a TV on finance during the boom as I was self employed, but it did not take an hour to arrange a mortgage, you cannot tell me something was a miss back then?!
Give yourself another pat on the back there chuck, glad you had 3 years to kick back looking for a house
But at least the poor legal services get to make a few bob
Interesting to see the state owned banks are spending the most on fees. Some things never change.
John I’m not far off bring in the same boat. On a 3 day week. I hope things work out for you. If I hadn’t bought a house I would be gone to. Jayniemac, your exactly what I’m talking about. Nothing worth while to add apart from a smart a*#%d badly In formed comment. Kicked back for three years. I rented and paid my bills rather than stay with my parents who worked all there lives to have there own place without me sponging off them. You haven’t addressed the people who went in way over there heads due to pure stupidity. How is that the banks fault. Before you get a mortgage the banks tell you your monthly payments. You either can or can’t pay it. You are also advised to have at least six months saving in case you are out of a job. If we don’t take responsibility for our mistakes why the hell would the government or banks.
We probably shouldn’t be able to read the cars reg at the front of the picture cos I know where this pic was taken (:
I’m no fan of Anglo, but I imagine the lions share of that was pursuing David drumm in the states and Sean Quinn in the North.
Is it really a surprise that Anglo and INBS are spending money with gay abandon? It is just the reverses of their loan policies. Of, but I forgot, the ‘public interest’ directors are no doubt shepherding the expenditure wisely.
Anglo tops the league for most of the shitty things that have happened to this country….30 pieces of silver…
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