Ulster Bank sending home repossession notices

Ulster Bank sending home repossession notices

Ulster Bank has begun sending out repossession notices to mortgage holders in arrears.

It comes just days after the Finance Minister Michael Noonan and the Central Bank announced new measures to deal with the mortgage arrears crisis in which it was promised that home repossessions would be a last a resort.

The Irish Independent reports that Ulster Bank repossessed around 200 properties last year but have indicated that that figure could rise to almost a 1,000 this year.

The bank's move comes even though the Government has yet to re-introduce rules that allow lenders take homes from struggling mortgage holders.

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