More mortgage holders opt out of payments
New research by Davy warns there is a growing culture of “strategic non-payment” of debt following a “confused regulatory response” to the ongoing crisis, which the stockbroker claimed included “inappropriate constraints” on banks from contacting delinquent borrowers.
Davy predicts banks will have to repossess a greater number of properties than to date to remove the problem posed by borrowers deliberately choosing to miss repayments on housing loans.
