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Mortgage arrears dip

FOR the first time since the economic crisis kicked-off in 2009, mortgage arrears at Irish banks fell in the third quarter of this year, the Central Bank said.

The number of mortgage accounts for principal dwelling houses in arrears fell from 142,892 to 141,520.

But the number of residential accounts in early arrears declined "significantly". The bank noted a 6pc quarter-on-quarter fall in the number of mortgages in arrears of fewer than 90 days. The outstanding balance on all PDH mortgages in arrears fell by 0.5pc during Q3.

A total of 209 properties were taken into possession by lenders during the quarter.