Local authorities owed €247m in mortgages

Local authorities around the country are owed €247m in arrears from tenants who took out loans to buy former council houses.

Figures published by the Department of the Environment show almost one third of local authority housing mortgages are in arrears by more than 90 days.

It has also emerged that the number of both forced and voluntary house repossessions by local councils has continued to grow. Overall there are 20,277 mortgages on the loan books of local authorities — a decrease of 8.1% on last year.