The Central Bank said the number of home mortgage accounts in arrears fell by 2,071 in the second quarter of the year after a decline of 292 in the first quarter.
Of the mortgage accounts in arrears, 13% are currently part of a legal process, with just over one third in the legal system for over five years. A total of 63,422 home mortgage accounts were categorised as restructured at the end of June this year, representing 9% of total home mortgage accounts outstanding.
Arrears capitalisation and term extension accounted for the largest share of new restructure arrangements, at 1,027 and 588 accounts, respectively, the Central Bank noted. The Central Bank noted that of the total buy to let mortgages, 9,566 accounts or 12% were in arrears of more than 90 days.