Ruairi Quinn (Dublin South East, Labour) | Oireachtas source

Engagement between consumers and lenders has already led to 45,177 permanent mortgage restructures up to the end of September, an increase of 3,900 on the August data. Encouragingly, the total number of mortgage accounts in arrears has fallen by 2,316 accounts to just over 118,000 accounts. The number of mortgage accounts in arrears of greater than 90 days has fallen by 14,068 accounts, down from 82,624 to 81,156. Term extensions and arrears capitalisations are the dominant permanent restructure type, comprising approximately 60% of total restructures. There has also been an increase in the number of split mortgages to 3,688 from 2,521 at the end of August. The next data up to the end of October will be released on 12 December. The Central Bank has set clear targets for the banks to deal with distressed borrowers requiring them to offer sustainable solutions by the end of next year at the latest.

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