Mortgage Arrears Rate

Dáil Éireann Debate, Thursday - 12 June 2014

Thursday, 12 June 2014

Questions (56)

Michael McGrath

Question:

56. Deputy Michael McGrath asked the Minister for Finance in relation to the residential mortgage arrears and repossession statistics published each quarter by the Central Bank of Ireland, if a mortgage arrears case which has had its arrears capitalised as part of an agreed restructuring arrangement and where no new arrears have since arisen, is no longer included as a mortgage in arrears. [25024/14]

Written answers

Minister for Finance

I am advised by the Central Bank of Ireland that if a mortgage in arrears has its full arrears balance capitalised (such that the arrears balance goes to zero) then this mortgage is no longer classified as in arrears in the Central Bank s Residential Mortgage Arrears and Repossessions Statistics . The mortgage will be counted in the restructured accounts category.