Nearly 100,000 mortgages in distress with €1bn arrears

NEARLY 100,000 mortgages are in distress, with the total of arrears now exceeding €1 billion, Central Bank figures have shown.

Outlining the scale of the crisis, the statistics show that 8.1%, or 62,970, mortgages are 90 days or more behind with payments. The average amount of the arrears is just over €17,000.

There are 46,371 mortgages in arrears for over 180 days, with these households an average of €21,000 behind on their loans.