The variety of home mortgage accounts in arrears over 90 days fell by 3% final yr, pushed by a gradual uninterrupted decline in those that have been in arrears longer than a yr, new knowledge from the Central Bank reveals.
The knowledge reveals as of the top of December, there have been 705,045 personal residential mortgage accounts for houses in Ireland value over €100bn. Of the overall inventory, 47,734 accounts had been in arrears — a rise of 409 during the last three months of the yr.
This enhance will be attributed to the decline within the variety of accounts in long term arrears — over one yr — whereas the variety of accounts in early arrears, as much as 90 days, has elevated by 673.
Banks maintain 40% of those accounts, whereas non-bank entities maintain the remaining 60%.
The variety of houses in arrears over 90 days stood at 29,034 as of the top of December. This represents 4.1% of all principal dwelling home accounts.
There had been 20,269 accounts in arrears longer than one yr as of the top of December.
The excellent steadiness on mortgage accounts in arrears of greater than 90 days was simply over €5.8bn at end-December.
There had been 57,863 home mortgage accounts categorised as restructured as of the top of December, a fall of 1,422 during the last three months of the yr, which continues a long-term development of decline.
In phrases of authorized proceedings, 33,147 home mortgage accounts in arrears had no formal demand issued as of the top of December. An extra 5,052 accounts had been on the formal demand issued stage, however authorized proceedings had not but commenced.
Another 5,117 accounts presently have authorized proceedings in course of — this consists of instances on the civil invoice lodgement stage and the place the case remains to be lively within the courts system The variety of properties in possession by the reporting establishments at end-December 2023 fell to 301 from 360 recorded in September.
During the final three months of the yr, 28 houses had been taken into possession by lenders. By end-December, 18 properties had been repossessed on foot of a court docket order, whereas one other 10 had been voluntarily surrendered or deserted.
As of the top of 2023, there have been 63,972 residential mortgage accounts for buy-to-let properties with an impressive steadiness of simply over €9.3bn. Of these, 9,505 had been in arrears, which is a decline of 836 over the course of final yr.
There had been 7,343 accounts greater than 90 days in arrears with 5,858 in arrears over a yr.
