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Mortgage arrears are falling - but 82,000 remain in the red

The number of Irish mortgages on principal dwellings in arrears has fallen again for the 12t...
Newstalk
Newstalk

13.28 13 Sep 2016


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Mortgage arrears are falling -...

Mortgage arrears are falling - but 82,000 remain in the red

Newstalk
Newstalk

13.28 13 Sep 2016


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The number of Irish mortgages on principal dwellings in arrears has fallen again for the 12th quarter in a row.

According to new figures from the Central Bank, 82,092 accounts remained in arrears at the end of June.

That is a 4.5% decline on the number recorded in March, and it accounts for 11% of all mortgage's on principal homes in Ireland.

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At the end of the period, there was a total of 743,700 private residential mortgage accounts for principal dwellings in the country - they had a total value of €100.9bn.

Of the six main lenders in the Irish market, the value of accounts in longer-term arrears of over 360 days amounted to €9.5bn.

Irish banks were still carrying non-performing loans (NPLs) worth more than €50bn at the end of 2015 according to the European Central Bank's (ECB) figures which were released yesterday.

This represents 20% of all bank loans in Ireland - that's well above the average of 7% across the euro zone.

 


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