The number of home loans in arrears declined again in February, according to data published today by the Department of Finance.
The total number of owner-occupied mortgage accounts in arrears declined by 3,101 to 84,717 in February when compared with the previous month, the statistics show.
The number of accounts in arrears of 90 days or more fell by 1,730 to 59,138.
This continues the steady decline in mortgage arrears since September 2013 when the number of accounts that were behind with payments stood at 118,438.
The data show that the total number of mortgage accounts that has been restructured by the main banks stood at 106,402 at the end of February.
In terms of buy-to-let properties, the number of accounts in arrears declined by 529 to 28,603 in February. There was a decline of 303 in the number of those in arrears of 90 days or more to 23,520.
“In the month of February, engagement between consumers and lenders has led to an increase of 373 accounts permanently restructured, which stood at 19,002 accounts,” the department added.
The number of owner-occupied accounts in arrears of 90 days or more but not restructured declined month-on-month by 960. There was also a decrease of 482 in the number of mortgage accounts in arrears of two years or more to 28,936.
Mortgages in arrears of more than 720 days in the main banks, account for about 34 per cent of the total number behind with payments.
Some 605,059 owner-occupied mortgage accounts, or almost 88 per cent of the total, were not in any arrears, the Department figures show.
The data is unaudited and relates to AIB, ACC. Bank of Ireland, KBC Bank Ireland, Permanent TSB and Ulster Bank, who between them represent 90 per cent of the mortgage market in Ireland.
