There’s been a rise in the number of mortgages in arrears. New figures from the Central Bank show that almost 78 thousand mortgages were in arrears for more than 90 days at the end of March.
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This compared with almost 71 thousand at the end of December.
That’s over 10 per cent of all mortgages – almost 8 per cent of these are in arrears for more than 180 days.
The number of repossessions increased by 28 per cent in the first three months of the year – to 961 properties.
Karl Deeter of Irish Mortgage Brokers says there is a growing number of homeowners who find themselves in difficulty – and are unable to get out of it:
