Business Personal Finance

Tuesday 20 March 2018

Rise in number of homeowners in long-term mortgage arrears

mortgage arrears
mortgage arrears
Charlie Weston

Charlie Weston

THERE has been another rise in the number of homeowners in long-term arrears.

Just over 38,000 residential mortgage accounts were more than two years in arrears in June.

This is almost 1,000 accounts higher than the same period last year.

People in long-term arrears are at high risk of losing their homes.

The numbers in the long-term arrears category have been rising relentlessly, despite falls in the overall numbers behind on their mortgage repayments.

New Central Bank figures show that that just over 98,000 mortgage accounts were in arrears in the three months to June.

This is down from 126,000 accounts in the same period last year.

It was the eight quarter that the total number in arrears on residential mortgages has fallen, according to the Central Bank.

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