RTE 6 News, Local Authority Loan arrears figures October 20th 2010 from Irish Mortgage Brokers on Vimeo.
In this piece Samantha Libreri of RTE looks at Local Authority Loans and specifically, at the fact that almost one third are in arrears of at least one month, while just under 30% are in arrears of three months or more. We were shocked to find this out, it makes sub-prime lenders look good in comparison.
We were equally surprised to find that there wasn’t a greater uptake on the story, we see this as a huge issue, especially as it is clear evidence that people who shouldn’t be getting loans are getting them from the state.