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Saturday, February 12, 2011

Irelands BTL Bubble

Further news on the Irish BTL bubble is that the Bank of Scotland's has announced that it is prepared to make capital write-offs for those property investors unable to meet their payments.

However the other main BTL mortgage lender in Ireland, the Belgian-owned Irish mortgage company KBC has not followed the Bank of Scotlands lead. KBC responded to the announcement with "The principle we adopt is we lend people money over a long period of time and we expect to get it back over a long period of time."

Speculative article in the Guardian blog

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