Saturday 25 October 2014

Number of homeowners in arrears falls again - new figures

Published 12/06/2014 | 12:14

THERE has been a surge in the number of potential property buyers approved for a mortgage in February.

THERE has been another fall in the number of homeowners who are in arrears at the main domestic banks.

April saw a fall of 6,000 in the number of mortgage holders behind on their payments for three months or more, figures out this afternoon from the Department of Finance show.

There are now just over 75,000 residential mortgage accounts that are three months or more in arrears at the six main banks.

Close to 15,000 troubled mortgage holders have a permanent restructuring of their repayments in place, with another 6,000 availing of a temporary restructure.

But seven out of 10 mortgages that are in arrears have yet to be restructured, the figures show.

Some 11,000 homeowners now have split mortgage arrangements in place, where part of the money owed is put to one side and only interest is paid on the part that is “warehoused”.

The figures outline the arrears and the number of permanent repayment deals put in place by AIB, Bank of Ireland, Permanent TSB, ACC, KBC Ireland and Ulster Bank.

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