Mixed reaction for Central Bank 90-day arrears benchmarks

The new benchmarks set by the Central Bank as part of the mortgage arrears resolution targets mean that fewer than 30% of mortgage holders will have to have a sustainable solution in order for the banks to meet the targets.

The targets announced by the Central Bank are that of the 79,000 people in 90 days arrears, 85% must be offered sustainable solutions, the target for acceptance is then 45% of those.

It is then hoped that 75% of those accepted offers will prove to be sustainable.