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Sunday 4 December 2016

Number of mortgage accounts in arrears falls but banks still face huge backlog

Published 11/06/2015 | 12:55

More than 40,000 accounts still in arrears
More than 40,000 accounts still in arrears

There has been another fall in the number of mortgage accounts in arrears at the six main domestic banks.

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But banks still have a huge backlog of cases where the accounts are in arrears and the repayments have yet to be restructured.

A total of 29,000 mortgage accounts are more than two years behind on repayments at AIB/EBS, Bank of Ireland, Ulster Bank, Permanent TSB, KBC Bank and ACC.

New figures from the Department of Finance show that 57,100 mortgage accounts were more than three months in arrears at the end of April.

This is down by close to 900 accounts.

But more than 40,000 accounts are in arrears and the payments have not been restructured to sort out the problem, the figures show.

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