Davy Research

Market comment

Resolution of Ireland’s mortgage arrears problem remains elusive

DAVY VIEW

A new Central Bank of Ireland publication yesterday provided more information on long-term mortgage arrears cases. Remarkably, 20% of mortgage arrears cases are now at least five years behind on their payments. However, of the 61% of these borrowers that have engaged with their bank, just 16% had received permanent modifications to their mortgage loans.

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