Tuesday 21 November 2017

Mortgage arrears rate in Dublin one of lowest in country

Charlie Weston

Charlie Weston

THE border and midlands regions have higher mortgage default rates than other parts of the country.

And boom-time buyers are still stuck in negative equity - where the size of the mortgage is greater than the current value of the property.

Mortgage default rates are lowest in Cork, followed by Dublin, Galway, Tipperary and Mayo, new Central Bank figures show.

Longford has the highest rate of mortgages in arrears, with almost one in five home loans in default.

High levels of mortgages in default were also recorded in Cavan, where 17pc of mortgages are in arrears. Laois, Meath and Offaly also have high levels.

Just over 11pc of mortgages are in default in Dublin, compared with 10pc in Cork.

There has also been a rise in those in arrears for two years or more on their home loans, the Household Credit Market Report from the Central Bank shows.

Full story: Pages 2-3

Irish Independent

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