Banks under pressure over mortgage arrears

The Central Bank will ramp up pressure on mortgage lenders this year to deliver workable solutions to the mortgage arrears crisis.

6th January, 2013

The Central Bank will ramp up pressure on mortgage lenders this year to deliver workable solutions to the mortgage arrears crisis.

More than 11 per cent of private residential mortgages are in arrears, according to the latest official figures. Last year, after a request by the Central Bank, lenders submitted detailed proposals outlining how they intended to tackle arrears, with lenders now piloting a range of schemes.

"Ultimately, the Central Bank review found the banks needed...

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