Bernard Durkan (Kildare North, Fine Gael)
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73. To ask the Minister for Finance to outline the extent to which he continues to monitor the manner in which the various banks continue to accommodate customers who have found themselves in difficulty during the past number of years, with particular reference to the need to ensure a positive accommodation; and if he will make a statement on the matter. [40892/15]

Bernard Durkan (Kildare North, Fine Gael)
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83. To ask the Minister for Finance to outline the extent to which the level of mortgage arrears continues to be managed in a way that accommodates the circumstances of borrowers; and if he will make a statement on the matter. [40902/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 73 and 83 together.

The Deputy will be aware that the Central Bank publishes Residential Mortgage Arrears and Repossessions Statistics on a quarterly basis.

Statistics for quarter 2 of this year were published in early September. This publication provided further evidence that progress is being made in addressing mortgage arrears. In summary, the position is:

1. Quarter 2 2015 marks the eight consecutive quarter of decline in the number of mortgage accounts for principal dwelling houses in arrears. This cohort has declined by 6.3 per cent relative to Q1 2015.

2. Over 118,500 PDH mortgage accounts were classified as restructured at end-June, reflecting a quarter-on-quarter increase in restructured accounts of 1.9 per cent, 86.3 per cent of which were deemed to be meeting the terms of their current restructure arrangement.

Based on Central Bank data, mortgage accounts with no arrears now make up 87% of all mortgage accounts. The continuing improvement in data trends shown in the Central Bank quarter 2 mortgage arrears returns are welcome and show that where there is meaningful engagement between lender and borrower, in the majority of cases an outcome that is beneficial to both parties can be reached.

In addition my Department continues to monitor and publishes Mortgage Restructures data on a monthly basis that covers mortgage accounts for the six main lenders. The figures in the latest publication for September 2015 (published on 12 November 2015) show that Primary Dwelling Home (PDH) mortgage accounts in arrears continue to decline and now stand at 73,060 representing an improvement of almost 24% compared to September 2014.

In conclusion, I must reiterate that active engagement by indebted borrowers with their lender is key to achieving a sustainable resolution, and I would urge borrowers in arrears, who have not already done so, to take that first step by contacting their lender directly or MABS for an independent assessment of their situation and advice on available resolution options.