Repossessions High in Northern Ireland

Fri, 23 Jul 2010

In 2009, 1,800 properties were repossessed in Northern Ireland.

In addition, 80,000 householders and nearly 19,000 business owners did not pay their rates in 2009/10.

£157 million was owed in rate arrears at the end of the last financial year in March, with two thirds being owed by the business sector.

During that period, 3,658 writs or summons for repossession were issued, with1,804 possession orders being made.

The rate arrears figures, released by the Land and Property Services (LPS), showed the huge impact the recession is having on local businesses.

The duration of the present recession has placed financial strain on many businesses and this is very evident in the growth of rating debt for this sector.

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