Rise in home mortgages trouble
17.02.2012
Some 100,700 of the country's 770,000 residential mortgages are now in arrears or have been restructured, according to the Central Bank.
New data released shows that over 9pc of home loans had fallen behind by 90 days or more at the end of December.
The amount of homes in arrears is up by nearly 8,000 compared to the end of September last year.
Meanwhile 74,379 of these mortgages had been restructured compared to 69,735 at the end of September, and while over 36,797 are keeping up with the new agreements, 37,582 are in some kind of arrears.
Furthermore, 133 properties were repossessed in the same period, which was down 18pc.
“It is important that borrowers co-operate fully with their lenders in order to be able to avail of the protections under the Central Bank’s revised Code of Conduct on Mortgage Arrears,” advised Bernard Sheridan, director of consumer protection at the Central Bank.
Karina Corbett