Bigger mortgage holders more likely to be in arrears

Higher-value mortgages are more likely to be in arrears than smaller loans, meaning any debt forgiveness programme will involve bigger-than-average amounts to write down, according to data released by the Central Bank last week.

3rd September, 2011
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Higher-value mortgages are more likely to be in arrears than smaller loans, meaning any debt forgiveness programme will involve bigger-than-average amounts to write down, according to data released by the Central Bank last week.

Quarterly mortgage arrears figures published last Monday show the average mortgage in arrears was 31 per cent bigger, at €194,000, than the average mortgage value overall, which was €148,000.While 7.2 per cent of all mortgages were at least 90 days overdue,...

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