Situation improving but banks must do more for those behind on payments
ON the face of it the arrears situation is improving. The numbers of residential mortgage accounts that are three months or more behind on repayments has fallen for the first time since the figures were collected.
This comes after almost four-and-a-half years of relentless rises in the numbers getting into mortgage trouble. So we have reason to cheer the first fall in the arrears figures.
In the three months to the end of December, close to 96,500 mortgage accounts were three months or more in arrears.