Mortgages arrears levels continue to fall

Thursday 10 July 2014 15.20
Finance Department issues latest arrears data from six main banks here
Finance Department issues latest arrears data from six main banks here

New figures from the Department of Finance show that the number of mortgages in arrears for more than 90 days fell to 73,719 in May from 78,435 in the first quarter of the year

The figures come from the six main banks covered by the Central Bank's Mortgage Arrears Resolution Targets and include AIB, Bank of Ireland, Ulster Bank, Permanent TSB, ACC and KCB Bank Ireland.

The Department said that engagement between consumers and lenders has led to 69,306 permanent mortgage restructures. This is up 7,241 from the end of March.

It also said that total mortgage accounts in arrears - behind for one day or more - continues to fall. The number of accounts in this category has fallen by 5,108 by May when compared to the end of the first quarter.

The number of split mortgages continues to increase with 12,857 split mortgages in place at the end of May.