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Tuesday 26 September 2023 Dublin: 13°C

# Mortgage Arrears Crisis

All time
Worried about losing your home? These guides are for you
The guides cover both the Circuit and High courts.
Number of homeowners in arrears over 90 days falls to 78,000
The number of permanent restructures is up by around 200 in February.
Just four mortgage deals have been completed by the Insolvency Service
66 people have been made bankrupt in 2014 so far, more than all of last year.
Debt write offs for some, but up to 27,000 homes could be repossessed
A new report says that 40 per cent of mortgages will begin to re-perform next year.
Banks exceeding arrears targets, but some customers have "no clarity"
The Central Bank says that there is no “tangible evidence” that some customers’ circumstances are improving.
Banks brought 2,300 legal proceedings against mortgage holders in Q3
The Free Legal Advice Centre says that some of the legal solutions offered to people in mortgage distress are “inexplicable”.
AIB and Irish Mortgage Holders Organisation to establish third-party advice body
The bank will give an unconditional grant of €150,000 to the IMHO to facilitate discussions between borrowers and the lender.
Mortgage holders who give up homes in arrears will be allowed on housing lists
If homeowners go through the Mortgage Arrears Resolution Process, they will be allowed apply for social housing, Minister of State Jan O’Sullivan has confirmed.
PTSB is "not aware" of letters advising people in minimal arrears to sell their homes
Sinn Féin’s Pearse Dohery says that he has met with a family who were advised to clear arrears of €300 by selling their home, something the PTSB CEO says he is “not aware” of.
PTSB says it would “stand over” advising customer to leave college in order to pay mortgage
Stephen Donnelly says that the bank’s response was “deeply disappointing” and says that the crisis is not one of arrears, it is one of debt.
Permanent TSB has offered 3,500 split mortgages, has taken legal cases against 1,600
Bank chiefs have told the Oireachtas Finance Committee that it has assisted 800 people to sell homes that they were struggling to pay for.
WATCH LIVE: PTSB executives face Finance Committee
TDs and Senators are grilling the bankers on mortgage arrears and other issues this week. It’s Permanent TSB’s turn this morning.
Bank of Ireland has addressed 53 per cent of defaulting mortgages
Bank of Ireland told the Oireachtas Finance Committee that it has 11,774 mortgages in default and has dealt with over 6,200 of those accounts.
These charts show the growth in mortgage arrears and how banks are tackling the issue
In September 2009, just 3.3 per cent of Irish mortgage holders were in arrears over 90 days.
Irish mortgage holders are over €2 billion in arrears
One in eight accounts is now in mortgage arrears over 90 days and just 306 accounts have been signed up to a split mortgage.