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Number of those in mortgage arrears falls again - Central Bank


THE number of homeowners who are behind on their mortgage repayments has fallen for the third three-month period in a row.

There are now 93,100 residential mortgage accounts that are three months or more in arrears, according to figures released this morning by the Central Bank.

When those who are in arrears for less than three months are added in, the total comes to 132,217 for the first three months of this year. This works out at 17pc of all residential mortgage accounts.

The latest figures mark three quarters in a row of falling arrears, the Central Bank said.

However, the numbers that are two years or more behind on their repayments have risen.

There are now 35,314 mortgage accounts that have been in arrears for two years.

Some 92,000 mortgage accounts have been restructured to lower payments for over-stretched borrowers, with eight out of 10 of these meeting the new lower repayment terms.

There has been a rise in buy-to-let mortgages in arrears, which now stand at close to 40,000 out of a total of 145,000.

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