We don’t think that repossession is a good outcome for a mortgage contract, both borrower and lender come out of it worse off. That said, secured lending needs to be secured and in Ireland we have been getting this wrong and it has resulted in higher prices and in some cases as part of the reason that lenders don’t want to operate here and that reduces competition for everybody.
Or copy and past this url into your browser: https://www.newstalk.com/podcasts/highlights-from-the-pat-kenny-show/should-we-be-tougher-on-mortgage-arrears
