Banks failing to tackle mortgage arrears

Three in four home loans in long-term arrears are not being restructured by the banks despite lenders having a range of mortgage solutions to offer borrowers.

The new figures on mortgages come amid warnings that banks are still failing to give loans to customers.

An analysis of home loans from the Department of Finance shows that there were 699,764 mortgages at the end of August. Some 82,624 of these loans had been in arrears of 90 days or more.