Financial Regulator says 28,603 Irish mortgage accounts were in arrears for more than 90 days at the end of 2009; 19,185 in arrears for more than 6 months
Mar 3rd, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Financial Regulator today published data on Irish mortgage arrears and repossessions for the period ended December 2009 and revised data for the period ended September 2009. The figures show that as at end December 2009 there were almost 793,000 private residential mortgage accounts in Ireland to a value of €118.3 billion. Of these 3.6% were in arrears for more than 90 days or 28,603 mortgage accounts - - 19,185 were in arrears for more than 6 months. The figures also show that overall mortgage debt for private residential mortgages decreased by €306 million in the last quarter of 2009. The average owed by each household is about €149,500.