Worst performing home loans in Ireland are more than two years in arrears, data shows
Figures out today revealed mortgage accounts in arrears for over 720 days make up nearly half of all overdue loans – on which €2.4billion is owed - in accounts across the banking system.
In the worst cases, courts ordered repossession or sale of 150 Irish homes between July and September last year. But there are some positives in the Central Bank research - 88,587 home loans had been restructured by the end of September - and 86% of those were meeting the terms. In addition, the number of mortgages in arrears for more than three months dropped by 1,502 between July and September 2019.The Central Bank report shows there is still help for those who are struggling to meet their home repayments.Worryingly, however, of the total 61,802 home loans behind in payments, just 18,021 have been restructured, while the other 71% do not have a new deal in place.
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