Empty threats over interest rates, claims Fianna Fáil

The Government was accused of making empty threats to banks over their failure to pass on rate cuts as new figures showed a rise in mortgage arrears of up to three months.

The number of residential mortgage accounts falling behind with payments by up to 90 days increased between February and March from 25,579 to 26,242, according to the Finance Department.

In brighter news, the number of mortgages in arrears of more than 90 days dropped 1,133 to stand at 58,005 in the same period.