One in ten mortgages now in arrears

UPDATE: there were 170 property repossessions in the first quarter of 2012 as more mortgages went into arrears.

25th May, 2012
More mortgages in arrears, repossessions

The Central Bank has issued new first-quarter data showing increasing numbers of mortgages in arrears and a 28 per cent rise in repossessions.

At the end of March 2012 there were 764,138 private residential mortgage accounts for principal dwellings with a value of €112.7 billion.

Of these, 77,630, or 10.2 per cent, were in arrears of more than 90 days.

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