Over 11% of homeloans in arrears of more than 90 days - Central Bank

Thursday 13 December 2012 22.01
The outstanding debt on investment properties in arrears now totals €7.9bn
The outstanding debt on investment properties in arrears now totals €7.9bn

Just over 11% of homeloans in the country are now more than 90 days behind on repayments, latest Central Bank figures show.

Statistics from Q3 on residential investment or buy-to-let properties show that under 18% of these are in arrears.

There are now just over 86,000 homeloans in arrears over 90 days, up from 81,000 in the previous quarter.

However, the Central Bank notes that the rate at which arrears figures are increasing is slowing down.

There are also more than 26,000 buy-to-let mortgages in arrears, accounting for 17.9% of the total.

Despite the fact that 22,000 buy-to-let mortgages have been restructured, with many of the owners paying interest only on their loans, 8,200 of those restructured loans are still in arrears.

The outstanding debt on investment properties in arrears now totals €7.9bn.

Keywords: arrears, homeloans