Mortgages in arrears break 10% barrier

The percentage of mortgage accounts at least 90 days behind on payments is expected to reach double digits for the first time, writes Jon Ihle.

19th May, 2012

The percentage of mortgage accounts at least 90 days behind on payments is expected to reach double digits for the first time, as the arrears rate for owner-occupiers crosses the psychologically important 10 per cent barrier, according to informed sources.

New quarterly figures from the Central Bank, due to be published this week, will show that about 80,000 borrowers - representing up to 10.5 per cent of private residential mortgages - are more than three months in...

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