‘Frightening’ figures highlight extent of arrears crisis

Groups assisting those in mortgage arrears have described, as “frightening”, figures showing more than one in 10 people now over 90 days behind on repayments.

New Beginning said the latest figures from the Central Bank revealed an intensifying economic crisis and that there was nothing positive about a slowdown in pace on the percentage of the increase in arrears’ compared to three months ago.

Spokesperson for the group, Ross Maguire SC, said any notion that the numbers were lessening fails to grasp the reality.