New figures from the Central Bank show the number of mortgages in arrears for over 90 days dropped by 1.7% in the third quarter of the year.

This marks the 20th consecutive quarter of a fall in the number of accounts in this category.

At the end of September, there were 728,075 private residential mortgage accounts for principal dwellings held in the Republic of Ireland, worth €98.2bn.

Of this total, 64,510 were in arrears, representing a decrease of 1,918 accounts or 2.9% over the quarter.

Some 45,178 accounts (or 6.2%) were in arrears of more than 90 days.

The number of accounts in arrears over 720 days was broadly stable, and declined by just 199 accounts or 0.7% in September.

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The total value of principal dwelling houses (PDH) accounts in arrears over 720 days past due has been revised from €2.47bn to €2.34bn in June.

The bank says the reason for the revision is to "ensure harmonised reporting across all reporting agents."

In previous submissions to the Central Bank, one portfolio was reported as 'fully in arrears' where a formal demand for repayment had been made, as opposed to the outstanding arrears figure only.

The number of accounts in arrears over 720 days also continued to fall, for the 13th quarter in a row.

The figures also show that non-bank entities now hold 10% of all outstanding mortgage accounts.

Eight percent are held by regulated retail credit firms, with the remaining 2% held by unregulated loan owners.

These unregulated loan owners hold 17% of all mortgages in arrears over 720 days.

Restructured accounts

In terms of restructuring, a total stock of 113,871 mortgage accounts were categorised as restructured at end of September.

This is a reduction of 2,139 accounts compared to end of June.

There were 4,618 new restructure arrangements agreed during the third quarter, bringing the total number of new restructure arrangements in the first three quarters of the year to 17,920.

Legal proceedings were issued on 509 mortgage accounts in the third quarter.

There were 242 mortgage accounts where court proceedings had concluded but arrears remained outstanding.

The courts granted an order for repossession or sale of a property affecting 120 accounts.

A total of 161 properties were taken into possession by lenders during this quarter, down from 245 properties in the previous quarter.