ONE IN TEN mortgages in Ireland is in arrears, according to new figures from the Central Bank.
A total of 72,489 residential mortgages were behind on payments as of the end of September, which is 10% of the total number of mortgages in Ireland.
However the figure is a decline on earlier this year, and has been falling consistently every year for the past four years. The number peaked in 2013 at almost 100,000 homes, representing 12.9% of all mortgages.
The figures published today by the Central Bank showed that just over 50,000 mortgages were in arrears of more than 90 days and 32,000 were behind on payments for more than 720 days.
The number of accounts in arrears of up to 90 days decreased by 155 accounts, or 0.7%, in the three months to September, following a decline of 1,366 accounts in the previous quarter.
The number of restructured mortgages has hit 119,070, and of these, 87% were deemed to be meeting the terms of their restructuring arrangement.
There were a total of 731,119 residential mortgages for principal dwellings as of the end of September, worth €98.6 billion in total.
The Central Bank report noted that the value of accounts in long-term arrears of over 360 days “remains large” for all lending institutions in Ireland, amounting to just under €8.4 billion at the end of September.
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