Central Bank sets out targets for dealing with customers in mortgage arrears

Central Bank sets out targets for dealing with customers in mortgage arrears

The Central Bank is setting out its latest targets for banks dealing with customers in mortgage arrears.

After discussions with the Troika, the Central Bank says it wants to see financial institutions having “concluded arrangements” with 15% of customers in arrears of 90 days or more by the end of December.

It has also set expectations for the end of March 2014, when it wants banks to have offered “sustainable” solutions to 70% of home loan customers with over 3 months of arrears, while banks should have reached “concluded” solutions with one-quarter of its arrears customers.

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