Pearse Doherty (Donegal South West, Sinn Fein)
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Question 168: To ask the Minister for Finance the number of households currently in mortgage distress, that is in arrears of more than 90 days or in restructured payment agreements with their lender, who will be eligible for the increased rate of mortgage interest relief announced in budget 2012; and if he will make a statement on the matter. [9437/12]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy may be aware, the Central Bank published, on 17 February last, the latest data in relation to mortgage arrears. This shows that at end December 2011, 70,911 private residential mortgage accounts were in arrears of 90 days or more. A further 74,379 accounts were categorised as restructured at the end of December 2011, of which, 37,582 had arrears of varying categories.

The increased rate of mortgage interest relief that I announced in Budget 2012 applies to first time buyers who purchased between 2004 and 2008. Mortgage interest relief is available on the interest paid on a qualifying loan. This measure is intended to assist in preventing mortgage holders from going into arrears on their mortgages. It will benefit some 189,000 mortgages relating to some 270,000 individuals.