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Home loan debt slows

THE pace of new mortgage arrears in AIB is slowing, new figures have shown.

However, a closer look at the figures has revealed that the problem continues to grow and three out of 10 restructured home loans are falling back into trouble, the bank said.

AIB said the "design and build phase" of the Mortgage Arrears Resolution Strategy approach was now complete.

A dedicated unit within the bank has been created to work with customers in difficulty, and significant progress is expected in the next six to 12 months.