Call for banks to reverse rate hikes amid surge in mortgage arrears

ONE mortgage holder in 20 has been unable to make monthly repayments for more than three months and experts fear the figures could be even worse.

Of the almost 790,000 mortgage holders in Ireland, 36,438 were in arrears at the end of June for more than 90 days.

Figures from the Central Bank and Financial Regulator show that by the end of June the number of mortgage accounts in arrears for more than 90 days jumped 12.7% compared to the end of March. The figures show of these 24,797 were more than 180 days in arrears.