‘Urgent solution’ sought as figures show 14% of mortgages in arrears
Latest figures from the Central Bank show 14% of all residential mortgages, representing close to 108,000 homes, are either in arrears for more than three months or have been restructured, meaning that interest-only or extended repayment periods have been agreed with lenders.
However, the true scale of the crisis is even greater as the figures do not include homeowners who are so far just one or two months in arrears, or those who bought second homes as investments.
