Davy Research

Market comment

Mortgage arrears continue to edge lower

DAVY VIEW

The latest batch of mortgage arrears data from the Central Bank show that the number of problem loans continues to edge lower. In Q2 2017, 90-day arrears fell to 7.1% of the outstanding stock of owner-occupier loans and 15.5% of buy-to-let (BTL) loans. Nonetheless, long-term arrears account for a majority of remaining arrears cases. Repossession looks like the ultimate solution for many remaining arrears cases but the government is also piloting a refreshed mortgage-to-rent scheme to keep borrowers in their homes. The details of the scheme are expected to be announced imminently.

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