| 10.7°C Dublin

Number of those in long-term mortgage arrears continues to increase - Central Bank


THERE has been a continuing rise in the number of householders in long-term arrears.

Close to 38,000 residential mortgage accounts are now more than two years behind on their repayments, figures released this morning by the Central Bank show.

This makes up 36pc of all residential mortgage accounts that are in arrears. The numbers are for the first three months of this year.

However, the numbers going into arrears for the first time continues to fall.

A total of 105,000 residential home-loan accounts are in some form of arrears, down 5pc on the last three months of last year.

Legal proceedings were issued to 2,788 mortgage holders during the first three months of the year, with courts granting repossession orders in 468 cases.

Online Editors