Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The total number of permanent restructures has increased to 54,000. Term extensions and arrears recapitalisation are the dominant permanent restructure types, comprising 60% of the total. It should be noted there has been an increase in the number of split mortgages to over 7,100 from approximately 2,500 at the end of August 2013. This includes split mortgages on a trial basis, pending the completion of a short period of successful payments. Temporary restructures have fallen over the period, as a greater focus is being applied to permanent restructures. Total restructures of accounts more than 90 days in arrears are around 21,000. The proportion of these that are classified as permanent is increasing every month. Regarding buy-to-let properties, a key point to note is that receivers have been appointed in respect of 3,721 accounts. Progress is being made across the range of options that are being applied to restructured debt.

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