Monday 20 November 2017

Number of mortgage holders in long term arrears falls for second quarter in row

Charlie Weston, Personal Finance Editor

THE number of mortgage holders more than two years behind in payments has fallen.

The Central Bank said that there were 36,500 residential mortgage holders who were in arrears for more than two years in the last three months of last year.

It was the second quarter in a row that the two-year arrears figure had fallen.

This is a key measure of the extent of the mortgage crisis as those who are more than 720 days behind on their payments are at high risk of losing their homes.

Close to 62,000 home owners are more than three months in arears on their repayments.

In total, some 121,000 residential mortgage accounts are in some form of arrears.

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