Banks "declared war" on mortgage holders as number of households in arrears by 720 days rises agai

The number of mortgages over two years in arrears rose by 5% in the second quarter of 2014 amid warnings that through repossession, banks have "declared war" on home owners behind on their payments.

Central Bank figures for the period April through June showed the number of mortgages on principal dwelling houses (PDH) now over 720 days in arrears increased by 1,752, or 5%.

That rise belied other figures that painted a more positive picture, such as a 4.7% fall in the total number of mortgages in arrears compared with the first quarter — the fourth consecutive quarter in which the total number of properties in mortgage arrears has fallen.