Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance the number of the residential mortgages that have been restructured that will be considered to be have been dealt with only on an interim basis and will subsequently require a more definitive long term solution to be put in place; and if he will make a statement on the matter. [13691/13]

Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance if he will set out in tabular form the number of residential mortgages restructured in each year from 2008 to 2013; the number of such restructured mortgages that are currently in arrears; and if he will make a statement on the matter. [13694/13]

Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance if he will set out in tabular form the number of buy to let mortgages restructured in each year from 2008 to 2013; the number of such restructured mortgages that are currently in arrears; and if he will make a statement on the matter. [13695/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 204, 210 and 211 together.

The Central Bank commenced the quarterly publication of mortgage and mortgage arrears data from the period ending September 2009. As part of this series, it commenced the publication of data on mortgage restructures in respect of primary homes in 2010 and subsequently in respect of buy to let mortgages in 2012. The outstanding number of restructured mortgage accounts for these types of mortgages at year ends, as well as the number of such mortgages currently in arrears, are set out below:

It should be noted, however, that the number of restructured accounts possessing arrears at the end of each year does not indicate the level of mortgages that have slipped into arrears after initial restructuring. Restructured accounts that are in arrears is comprised of loans that had arrears both prior to restructuring (but are now performing according to the new arrangement) and loans that have slipped into arrears post restructuring. Furthermore, the annual increase in the total stock of restructures is not due exclusively to new restructures that took place in that year, as some restructuring arrangements that were in place at the end of the previous year will have expired by the end of the following year. Therefore, those accounts whose restructuring arrangements have expired at some point during a period are not included in the overall stock of restructures at the end of that period.

The data currently published by the Central Bank relates to restructures and they type of restructure. At the end of 2012, the Central Bank advised that around 23,430 PDH mortgage accounts had a permanent restructure type of arrangement but data is not yet available on the durability of the restructured arrangement. However, as the Deputy is aware, last week the Central Bank announced new and significant targets for the main banks to offer and put in place durable and sustainable solutions for their customers in mortgage difficulty. Initially the targets are for the offer of solutions but over time targets will also be set for the conclusion of sustainable solutions and for the durability of such solutions. Arrangements will be put in place to audit and monitor progress made against these targets.