Mortgage Arrears Proposals

Dáil Éireann Debate, Tuesday - 26 May 2015

Tuesday, 26 May 2015

Questions (266)

Michael McGrath

Question:

266. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 64 of 13 May 2015, and in respect of the 36,256 private dwelling house mortgage accounts classified as restructured which are in arrears, the way this was broken down between accounts that were in arrears prior to restructuring, where the arrears balance has not yet been eliminated, and accounts that are in arrears on the current restructuring arrangement; and if he will make a statement on the matter. [19933/15]

Written answers

Minister for Finance

Further to the Central Bank Residential Mortgage Arrears and Repossessions statistics in respect of quarter four 2014, I am informed by the Central Bank that the banks do not report data for statistical purposes to them in such a way as to facilitate the requested breakdown. Consequently, I am unable to provide the specific breakdown requested of accounts in arrears prior to restructuring and accounts in arrears on the current restructuring arrangement. 

The Government is committed to helping people in arrears to reach sustainable solutions and engagement between lenders and mortgage holders has resulted in almost 115,000 solutions to the end of December. The major reforms announced by the Government on 13 May are designed to help more people to access the supports, options and solutions available and, in particular, to support mortgage holders in long term arrears.