142,118 mortgages now in arrears, say Central Bank

142,118 mortgages now in arrears, say Central Bank

There are now 142,118 residential mortgage accounts in some form of arrears, according to new data from the Central Bank.

In total, there are now 95,554 private residential mortgages for principal dwelling houses that are in arrears for 90 days or more. That equates to 12.3% of the total mortgage market – up from 11.9% at the end of December last year.

The figures also show that 46,564 homeowners ere in arrears for less than 90 days at the end of March – which was down 0.7% on the previous quarter.

A total of 79,689 mortgage accounts have also been restructured, with 76% of these deemed to be meeting their restructure agreements.

Meanwhile, there were 29,369 (19.7%) buy-to-let properties in arrears of over 90 days at the end of March – up from 18.9% at the end of last year.

The figures relate to the first quarter of 2013, when there were 774,109 private residential mortgage accounts in Ireland.

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