Central Bank to survey those in mortgage debt

Central Bank to survey those in mortgage debt

The Central Bank

The Central Bank is set to conduct a survey of 2,000 homeowners in mortgage debt in order to try and gain a “greater understanding” of the current financial position of households.

Ipsos will conduct the research on behalf of the Central Bank.

Governor of the Central Bank Patrick Honohan said its purpose was to identify any changes in the income and consumption patterns of mortgage holders since they first took out their loans.

He said the issue of mortgage arrears remains a top priority and that the data represents “one element of the strategic approach” being taken.

He also reiterated that no information provided by borrowers would be passed on to financial institutions or lenders.

Mortgage holders randomly selected will be sent a letter asking them to participate in a face-to-face interview with Ipsos/MRBI staff.

Any survey participants who are currently experiencing difficulties with mortgage repayments and who are in the Mortgage Arrears Resolution Process will also be asked about their experience with this process and how they feel they have been treated by their lender.

Latest figures suggest that over 70,000 people are behind on their repayments by 90 days or more.

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