New Central Bank figures show that the number of home mortgage accounts in arrears fell by 1,480 accounts, or 3%, in the third quarter of the year.

This follows a decline of 2,987 accounts in the second quarter and a decrease of 2,838 accounts in the first quarter.

Overall, the total number of home mortgage accounts in arrears is down 7,767 accounts or 14% from the same time last year.

The Central Bank said the annual decline in total home mortgage arrears is driven by reductions in both shorter and longer-term arrears cases.

By the end of September, the Central Bank said that 4.7% of all home mortgage accounts were in arrears over 90 days, representing 34,182 mortgage accounts - this marked the lowest number of accounts in arrears over 90 days since June 2010.

Accounts in arrears less than one year declined by 300 accounts in the three months from July to September, with a reduction of 3,792 accounts on a yearly basis..

Meanwhile accounts in arrears over one year declined by 1,180 accounts in the third quarter, with a decline of 3,975 accounts on an annual basis.

Today's figures also show that a total stock of 68,718 home mortgage accounts were categorised as restructured at the end of September, representing 10% of total home mortgage accounts outstanding.

The Central Bank said that arrears capitalisation and reduced payment options accounted for the largest share of new restructure arrangements, at 847 and 472 accounts, respectively.

For the outstanding stock of restructures, split mortgages accounted for the largest share, representing 30% of all restructured mortgage accounts at the end of September.

Latest Cental Bank mortgage arrears figures

The share of accounts on temporary restructure arrangements remained low, at 11%, the Central Bank said.

88% of restructured home mortgage accounts were deemed to be meeting the terms of their arrangement, up slightly on recent quarters, meaning that the borrower is, at a minimum, meeting the agreed monthly repayments according to the current restructure arrangement.

Today's Central Bank figures also show that 13,110 buy to let mortgage accounts were in arrears at the end of the third quarter, a decrease of 4.7% over the quarter.

Of the total buy to let stock, 12.4% were in arrears of more than 90 days - down 4.5% over the quarter.

The Central Bank noted that of the total number of BTL accounts in arrears, 21% were overdue by between two and five years, while a further 28% were in arrears by between five and ten years and 15% were in arrears for over ten years.