Number of mortgages in arrears for three months or more has fallen
THE numbers of residential mortgage accounts that were in arrears for three months or more has fallen for the first time in four years.
New figures out this morning from the Central Bank show that there were 96,274 residential mortgage accounts in arrears for three months or more in December, down slightly from the previous quarter.
It is the first time since September 2009 that the numbers who are three months or more behind on their repayments have fallen back.
However, there was a rise in numbers who are in long-term arrears.
Experts said this indicated that banks are dealing with the easiest arrears cases first while failing to tackle those who are two years or more behind on their repayments.