THE number of Dungannon homes being taken back by the banks has dropped for the first time since 2006.
Latest figures from the Northern Ireland Court Service show that the amount of properties in the Dungannon district being repossessed by mortgage lenders has dipped for the first time since the housing boom, down to 95 from a high of 106 in 2010.
The figures, which mirror those for the rest of Northern Ireland, suggest that lenders are giving more leeway to struggling households.
Across Northern Ireland, the number of properties repossessed by mortgage lenders fell in the first half of the year to one of the lowest levels since the 2007 financial crisis struck.
Lenders have been under pressure not to repossess properties unless it is genuinely a last resort. They must do a considerable amount to convince the courts that they should seize a borrower’s home.
However, it has also emerged that three times as many property owners in Northern Ireland faced repossession through the courts than those in the Republic of Ireland between 2008 and 2011. Comment to www.tyronetimes.co.uk.