Quarter of all home loans in trouble

One in four mortgages is in arrears or has been restructured, with the Central Bank warning financial institutions they need to do more to tackle the crisis.

Figures for the first quarter of 2012 are expected to show 80,000 (or 10.5%) of home loans are more than 90 days in arrears.

It comes as the Department of Finance admitted that while initiatives had been introduced, more needed to be done “to help those in mortgage arrears”.