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Signs of hope for Northern Ireland


The Northern Ireland Repossessions Taskforce has released its overview of the Northern Ireland housing market.

Northern Ireland house prices now stand at 50 per cent of their 2007 peak level. Negative equity affects 41 per cent of borrowers and Northern Ireland has the UK’s highest level of buy-to-let arrears.

Economic recovery is stagnant, with 2013 median gross weekly earnings of full-time workers the lowest in the UK. 

So what does the future hold?

The taskforce will consider long-term solutions to Northern Ireland’s challenges and make recommendations later this year. 

There may have been a feeling of doom and gloom in the past, but data for the past 12 months shows hints of recovery. Mortgage lending for house purchases is up 35 per cent in the first quarter of the year compared with last year, with first-time buyers helping to drive market growth. 

House prices have finally started to rise again – a Nationwide report found they were up 8.4 per cent year-on-year, and mortgage repossession cases in court have fallen 14 per cent in the first quarter compared with last year.



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  • Post a comment
  • James - Montpelier Private Finance 14th August 2014 at 11:41 am

    As well as bridging finance!

    – Lending up to 65% of purchase price subject to 80% of 90 day Vacant Possession
    – Pricing is from 1% per month, plus arrangement/exit fees
    – Funding from £100,000 up to multi-million transactions
    – Residential or commercial assets considered – an example of current deals being considered include a filling station, a row of commercial units, a pub and a residential investment property
    – Unregulated business only
    – Prefer assets with an income stream sufficient to pay interest, although will retain interest in certain circumstances
    – Must have a clear and tangible exit ie sale or term finance

  • Matt Tristram 13th August 2014 at 4:52 pm

    Don’t forget some second charge lenders are also now lending in Northern Ireland too, with Clearly Loans & Central Trust launching a range earlier this year.


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