Wednesday 7 December 2016

40pc of troubled home loans a year in arrears

Indebted households owe an average of €27,000

Charlie Weston Personal Finance Editor

Published 19/11/2011 | 05:00

FOUR out of 10 households in mortgage arrears with the four domestic banks have now been behind on their repayments for a year or more.

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These families have missed so many of their monthly payments that they have run up an average of €27,000 each in arrears, according to the Central Bank.

The Central Bank study of mortgages at AIB, Bank of Ireland, EBS and Permanent TSB also found that troubled home loans at these lenders represented 56pc of all the mortgages in arrears.

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