Mortgage arrears expected to peak next year, according to KBC Bank Ireland

Mortgage arrears expected to peak next year, according to KBC Bank Ireland

John Reynolds of KBC Bank Ireland

Arrears on mortgages are expected to peak early next year, according to the head of KBC Bank Ireland.

John Reynolds said his bank expected mortgages in long-term arrears to peak in the first half of next year, note late this year as had previously predicted.

That’s because people are still moving from short-term to long-term arrears, according to Reynolds.

On a positive note, Reynolds said KBC were seeing an increase in demand from new borrowers since it cut the size of deposit buyers have to borrow from 20% to 10% of the value of a home.

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