One-in-18 could be in mortgage arrears

MORTGAGE arrears could peak to a point where one in every 18 home loans would be in arrears.

According to the managing director of the Irish Mortgage Corporation, Frank Conway, mortgage arrears of 90 days or more could peak at 5.5%.

That would push the number of mortgages in arrears for more than three months to over 43,000, said Mr Conway