10% of owners struggle to pay mortgage

ONE in 10 house owners are having difficulty paying their mortgage, according to the Central Bank — but experts warn many more could be in serious trouble.

The figures show more than 44,000 homeowners are at least three months behind with repayments, with the numbers struggling rising by 10% in the final few months of 2010.

More than 100 homes were repossessed in the last quarter — taking the total number since records began in July 2009 to 422. The September-December rate of repossessions is the highest in 18 months since the Central Bank started detailing the extent of the arrears crisis.