20% of mortgages in arrears as €6bn gap widens

A snapshot of the long-term misery that is fuelling the mortgage crisis has been revealed.

In terms of money, there are €100bn worth of home loans on the books of the country’s banks. Now, one in every five has been in arrears for more than three months.

Four years ago, there were €113bn worth of home loans on the banks’ books, with only one in 22 in arrears for more than three months.