Marked rise in IL&P mortgages in arrears

Updated: 19:53, Wednesday, 4 March 2009

Irish Life & Permanent says there was a marked increase in arrears in residential mortgages in the last three months of 2008.

1 of 1IL&P - Increases resources in arrears management
IL&P - Increases resources in arrears management

In December last year, 7,900 of IL&P's 192,000 Irish mortgages were a month in arrears. That compares with 5,700 at the end of 2007.

It says that negative equity was 8% of total cases at the end of last year.

The group says it has increased its resources in arrears management.

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