Almost 100,000 mortgages in arrears

Saturday 24 August 2013 09.22
Figures show an 11% increase in the numbers that were two years behind on repayments
Figures show an 11% increase in the numbers that were two years behind on repayments

Despite hope that mortgage arrears figures would begin to stabilise, the latest information from the Central Bank shows there has been an increase of 2,320 in the number of accounts in arrears.

This means that 12.7% of private residential home loans, or almost 98,000 mortgages, are more than 90 days behind on repayments.

The figures show an 11% increase in the numbers that were two years behind on repayments.

In addition to the figures for home loans in arrears, the Central Bank has given an update on buy-to-let mortgages.

It said 20% are in arrears, which is significantly higher than the level for owner-occupier home loans.

The Irish Banking Federation described the figures as unwelcome.

It said the overall level of arrears is likely to continue to increase before it peaks.