Eight percent of private mortgages in Ireland in arrears
62,970 of private mortgages in Ireland are in arrears of more than 90 days
Just over 8%, or 62,970, of private mortgages in Ireland are in arrears of more than 90 days, according to official figures from the Central Bank.
The number of mortgages in difficulty has increased since June when 55,763 were in arrears.
The amount of mortgage arrears now outstanding for 90 days or more has also passed €1 billion for the first time. The average size of the arrears is just over €17,000 and the average loan amount outstanding is €196,400.
Some 46,371 mortgages have been in arrears for more than 180 days. Their arrears amount to almost €994 million. Mortgage holders in arrears for more than 180 days are, on average, €21,000 behind in their repayments.
A total of 76 repossession orders were granted by the courts between July and September and 162 homes were taken possession of by lenders.
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The Central Bank figures also indicate there were 119 voluntary surrenders or abandonment of properties in the same period. Just over 1,000 properties have repossessed in the past two years.
There are currently 773,420 private mortgage accounts held in Ireland to a value of €114.4 billion.
New Beginning, a campaign group set up to help those struggling with mortgages, says it is clear that the mortgage crisis continues to worsen.
It said it reiterated its call for a coherent solution from the government to the arrears problem, "without which there will be no economic recovery in this country.”
Reacting to the Central Bank figures, the Irish Banking Federation noted that the level of repossessions still remains comparatively low -- 21 per 100,000 mortgages here compared to 82 per 100,000 in the U.K.
The federation said it continues to strongly encourage borrowers who are under pressure with their repayments to communicate with their lenders to find a solution.
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Teadoir !! Please do not post again,you make yourself look silly.4,000 Irish social welfare letters encourage young people to emigrate
Would love to hear the reaction if that were done here, in the U S A.Irish university suspends Legion of Mary for anti-gay literature
How dare they suggest an alternative to an alternative life style! I guess it is all depends on what the meaning of "impede" is.Irish radio presenter suspended after anti-Israeli comments aired on show
Seanomelb The correct term for Israel's attitude is Zionism. Apartheid is thrown about by such as yourself to the point of being meaningless. The Jews