Number of home mortgages in arrears for over 10 years remains high

Vulture funds control almost three quarters of all residential mortgages in some sort of arrears for more than a year

Paul Joyce: 'Problem of arrears is not getting worse, but it's not being solved either.' Picture: Tommy Clancy

So-called non-bank entities, better known as vulture funds and their agents, now control almost three quarters of all residential mortgages that have been in some sort of arrears for more than a year, new Central Bank figures show. 

The latest residential arrears and repossession statistics at the end of June also show that the number of home mortgages that have been in arrears for over 10 years, at 5,860, remains stubbornly high.