Lawyers net €7m as banks repossess homes

BAILED-OUT banks spent almost €7 million on legal fees over the past three years to repossess homes from people who have fallen on hard times.

The legal profession has been described as the real winner in the raging mortgage crisis, which experts predict is only going to get worse.

AIB and its subsidiary EBS spent over €2m on legal fees relating to repossession cases since the start of 2009. AIB revealed recently it has repossessed just 17 owner-occupied homes and 21 buy-to-let homes.