Brian Stanley (Laois, Sinn Fein)
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94. To ask the Minister for Finance the steps he will take to deal with the 38,000 mortgages that are in arrears of 90 days or more; and if he will provide reasonable protection for these borrowers. [7284/16]

Bernard Durkan (Kildare North, Fine Gael)
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111. To ask the Minister for Finance the extent to which his Department 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. [7733/16]

Bernard Durkan (Kildare North, Fine Gael)
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115. To ask the Minister for Finance the extent to which the level of mortgage arrears continues to be managed in a way that is accommodating to the circumstances of the borrower; and if he will make a statement on the matter. [7737/16]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 94, 111 and 115 together.

The Deputies will be aware that the Government strategy to deal with mortgage arrears has developed and been enhanced over recent years and additional measures have been introduced as the nature and circumstances of those in arrears has evolved.

Data released on 10th March 2016 by the Central Bank on Mortgage Arrears and Repossessions Statistics for quarter 4 of 2015  provided further evidence that progress is being made in addressing mortgage arrears.  In summary, the position is: Quarter 4 2015 marks the tenth consecutive quarter of decline in the number of mortgage accounts for principal dwelling houses in arrears.  This cohort has declined by 20 per cent relative to Q4 2014.

1. Over 120,730 PDH mortgage accounts were classified as restructured at end-December, reflecting a 5.3 per cent increase in restructured accounts relative to Q4 2014.  86.4 per cent of restructured accounts were deemed to be meeting the terms of their current restructure arrangement.

2. All maturity categories of arrears, including the over 720 days category, declined in Q4 2015, with the over 720 days category recording a second consecutive decline. Currently the number of PDH mortgage accounts in arrears for more than 720 days stands at 36,351.

Based on Central Bank data, mortgage accounts with no arrears now make up 88 per cent of all mortgage accounts. The continuing improvement in data trends shown in the Central Bank quarter 4 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 February 2016 (published on 14 April 2016) show that Primary Dwelling Home (PDH) mortgage accounts in arrears continue to decline and now stand at 67,234 representing an improvement of almost 21 per cent compared to February 2015.

The Deputies will be also be aware that the Central Bank's Code of Conduct on Mortgage Arrears (CCMA) and the Consumer Protection Code  provide a strong consumer protection framework to ensure that each borrower who is struggling to keep up mortgage repayments is treated in a timely, transparent and fair manner by lenders.  The CCMA recognises that it is in the interests of borrowers and lenders to address financial difficulties as speedily, effectively and sympathetically as circumstances allow.

I would also refer Deputies to a new Government-funded scheme announced by the Minister for Justice in January to help people who are insolvent, and in mortgage arrears on their home, to access independent expert financial and legal advice.  MABS will act as the gateway to refer eligible distressed borrowers to access this scheme.

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.