There were 91,963 residential mortgage accounts in arrears by the end of November, according to the Department of Finance, down almost 3% on the previous month.
The majority of accounts – 64,196 – were in arrears for 90 days or more, which was down 2.8% on October 2014.
These long-term arrears cases represent almost 9.3% of all residential mortgages on the books of the six main banks involved in the Central Bank’s Mortgage Arrears Resolution Targets.
By the end of November, 71% of all long-term arrears cases had yet to be restructured, while 23% had undertaken permanent restructuring deals.
Almost one third of these deals involved arrears capitalisation – where the amount outstanding is added to the principle of the loan – while 21% saw the mortgage split.
A further 18% agreed an extension to the term of their loan, while only 2% had agreed to interest only repayments for a limited period of time.
In the same month there were 31,362 buy-to-let mortgages in arrears, according to the department, which represents a quarter of all such loans on the books of the country’s six main banks.
More than 25,900 of these were in arrears of 90 days or more.
Three quarters of all arrears cases in the buy-to-let sector had not been restructured by the end of November, while 19% had agreed permanent deals.
Around 29% of these involved arrears capitalisation, while 21% saw repayments fixed for a period.
A further 21% of cases involved a mixture of different measures, while 16% agreed a term extension.
