Mortgage Arrears and Repossessions

Summary of the Central Bank of Ireland’s Residential Mortgage Arrears and Repossessions Statistics: Q4 2016

Mortgage Arrears and Repossessions

The Central Bank of Ireland released it’s Residential Mortgage Arrears and Repossessions Statistics: Q4 2016 , below is a summary of the results.


  • The number of mortgage accounts for principal dwelling houses (PDH) in arrears fell further in the fourth quarter of 2016; this marks the fourteenth consecutive quarter of decline. A total of 77,493 (11 per cent) of accounts were in arrears at end-December, a decline of 2.6 per cent relative to September 2016.
  • The number of accounts in arrears over 90 days at end-December was 54,269 (7 per cent of total), reflecting a quarter-on-quarter decline of 3.7 per cent. This represents the thirteenth consecutive decline in the number of PDH accounts in arrears over 90 days.
  • The majority of maturity categories of arrears, including the over 720 days’ category, declined in Q4 2016. This category recorded a sixth consecutive decline, having declined for the first time in Q3 2015. The decline of 3.2 per cent in Q4 2016 was the largest decline in this category to date.
  • The number of PDH mortgage accounts that were classified as restructured at end-December was 120,944. Of these restructured accounts, 87 per cent were deemed to be meeting the terms of their current restructure arrangement, down slightly from previous quarter. There was a continued reduction in short-term restructure arrangements such as Interest Only and Reduced Payments, which was partly offset by an increase in longer-term arrangements such as Split Mortgages.
  • Buy-to-let (BTL) mortgage accounts in arrears over 90 days decreased by 4.4 per cent during the fourth quarter of 2016. At end-December there were 14,028 BTL accounts in arrears over 720 days, with an outstanding balance of €4.1 billion, equivalent to 17 per cent of the total outstanding balance on all BTL mortgage accounts.
  • There was a slight decrease of 0.5 per cent in the number of BTL accounts where a rent receiver was appointed; this follows on from an increase of 5.4 per cent in the previous quarter.
  • Non-bank entities now hold 48,562 mortgage accounts for PDH and BTL combined. Of this number, almost 63 per cent are held by regulated retail credit firms, with the remainder held by unregulated loan owners. Some 41 per cent of PDH accounts held by unregulated loan owners are in arrears of over 720 days, compared to 18 per cent of accounts held by retail credit firms.



Further details available from  Central bank of Ireland  . Original source :  Source link here 

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