McGrath: Worrying trend in mortgage arrears

The number of mortgages in arrears over 90 days that have not been restructured has fallen by a quarter since August 2013, according to the Department of Finance.

The number of mortgages in arrears stood at 94,782 at the end of October, a decrease of 1,333 compared with September — 66,075 in arrears by more than 90 days and 28,707 in arrears by less than 90 days.

There was an increase of 2,988 permanent mortgage restructures over the month of October, and a 10% rise in the number of split mortgages at the end of October to bring the total to 18,827.