Mortgage arrears at PTSB fall 21%

There has been a 21% drop in customers in mortgage arrears between the start of the year and the end of August at Permanent TSB.

There were a total of 16,443 residential mortgage owners in arrears over 90 days at the end of August, compared with 20,800 at the start of 2014. The decrease in arrears in the buy-to-let sector has been a more modest 11.6%. There were 3,341 customers in arrears over 90 days in the buy-to-let sector at the end of August.

PTSB set up an asset management unit in 2012 to deal with customers in arrears as part of a restructuring of the troubled bank.