Photo: Tony GavinONE in eight mortgage accounts is in some form of financial distress. The figure represents one of the starkest indictors yet of how intractable the mortgage arrears crisis is proving some 10 years after the financial collapse. Deputy Governor Ed Sibley demanded more action from banks and other lenders to resolve the long-running mortgage arrears issue when he revealed that 13pc, or 95,000, mortgage accounts are displaying some form of financial distress. There are close to 29,500 cases of long-term arrears for home mortgages. The figure is down from 61,000 in June 2014, at the peak of the mortgage arrears crisis.

Source: Irish Independent July 13, 2021 08:37 UTC