Rise in number of restructured mortgages for distressed borrowers this year

Despite a fall in the total number of all arrears, the increased number of restructured mortgages suggests that all is not well, experts said.

Senior policy adviser at Flac Paul Joyce.

New figures from the Central Bank show that mortgage arrears continues to be a running sore for households in Ireland, despite the payment breaks banks offered struggling borrowers during the worst of the Covid crisis.           

The number of households who required some sort of restructuring deal from their mortgage lender is continuing at a high level, with mortgage lenders agreeing over 4,570 so-called restructure arrangements with customers struggling to meet their monthly payments, the latest figures on residential mortgage arrears and repossessions show.