Concern over level of mortgage restructuring

A mortgage expert has expressed serious concern after Central Bank research showed the number of home loan accounts — possibly well over 120,00 and as many as 200,000 — that needed some sort of modification or restructuring was much higher than officially recorded, writes Eamon Quinn.

A mortgage expert has expressed serious concern after Central Bank research showed the number of home loan accounts — possibly well over 120,00 and as many as 200,000 — that needed some sort of modification or restructuring was much higher than officially recorded, writes Eamon Quinn.

Michael Dowling, chair of the mortgage committee at the Irish Brokers’ Association, said the discrepancy in the figures raised concern because the new figures suggest the household debt crisis to be larger than first thought and that the challenges were greater in tackling the debt distress faced by many households.