Stress-testing of mortgages questioned by court

A HIGH COURT judge has questioned the stress-testing of mortgages agreed by financial institutions, warning of the “social wreckage” that the courts are being left to face.

During a series of repossession hearings, the court heard of several cases involving family homes, millions of euro in unpaid mortgages and homeowners who had defaulted payment after payment.

Five repossession orders were granted by Judge Brian McGovern at Court 1 yesterday.