One in nine struggling to pay mortgage

NEARLY one in nine residential mortgage holders — 86,271 borrowers — is unable to make repayments or has sought help from their bank.

The news comes as finance groups warned of the impact of future interest rates rises and the National Asset Management Agency (NAMA) said it wants to help potential homeowners who cannot afford the full price of a house.

Figures released by the Central Bank show that, at the end of March, 86,271 borrowers were either more than 90 days behind on their mortgage or had their loan refinanced, up from 79,173 at the end of last year.