As the true nature of Fianna Fail’s corruption comes to light, New figures published today by the Central Bank indicate that over 55,000 mortgage holders are in arrears for more than 90 days. At the end of June there were 777,321 private residential mortgage accounts held in this country with a total value of €115bn, the Central Bank said. Of these, 55,763 accounts, or 7.2%, were in arrears for more than 90 days.
This compares with 49,609 accounts (6.3% of total) that were in arrears for more than 90 days at the end of March 2011.
Meanwhile some 69,837 residential mortgage accounts were categorised as "restructured" at the end of the quarter.
Some 173 properties were taken into possession by lenders during the quarter, compared to 140 in the quarter to end March. Mortgage lenders held 809 repossessed properties at the end of June 2011.
The Central Bank's Director of Consumer Protection, Bernard Sheridan, encouraged consumers struggling with mortgage repayments, or those who fear they will fall into difficulty, to make contact with their lender as early as possible so that they can benefit from the protections offered by the Central Bank’s revised Code of Conduct on Mortgage Arrears.
"‘The earlier you make contact with your lender the more likely you are to come to a manageable solution," Mr Sheridan said.
"The figures at the end of June 2011 show that lenders have agreed arrangements with their customers on almost 70,000 accounts."
