Long-term mortgage arrears ‘persistently high’

More than 36,350 home-owners in long-term arrears have little or no chance of ever repaying their mortgage, experts believe.

There are 88,290 owner- occupiers behind on their repayments to the banks; more than 40% of which are two years or more in arrears.

This is despite a reduction in all categories of arrears in the final quarter of 2015 when a decline of 4,050, or 4.4%, was seen.