NI Mortgage Writs And Summonses Double

The number of Northern Ireland people finding it impossible to make mortgage repayments has seen a sharp rise.

During April and June this year 929 writs and summonses were issued, the Court Service has confirmed.

Today's figures are almost double the amount for the same period in 2007.

This illustrated a 59% rise from the 584 mortgage cases heard at the High Court the previous year.

The latest statistics represent both domestic and commercial properties. However, not all of the cases heard resulted in eviction or repossession.


The total number of properties repossessed during that period was 323.

This news comes as a University of Ulster survey this week revealed that the number of house sales, so far in 2008, has halved.

A mere 1,044 homes were sold in the second quarter of this year, as the so-called 'credit crunch' started to pinch buyers.

This created an overall 4% drop in NI property prices, recorded over the quarter.

The report also said the average NI house price looks set to drop by £50,000 by year-end.

Yesterday the Northern Ireland government published its quarterly Construction Bulletin, which showed volume in the sector has slid by 2.7-points.

This dip meant £15 million worth of work was wiped from the industry during the last quarter.

Adding to the £40 million running-total loss for Northern Ireland builders, so far this year.

(PR/JM)