Dáil Éireann Debate, Thursday - 26 November 2020
227. Deputy Bernard J. Durkan asked the Minister for Finance the number of distressed mortgages in respect of family homes that have been resolved to the satisfaction of all concerned without enforced sale, repossession or liquidation; and if he will make a statement on the matter. [39477/20]
View answerThe information which the Deputy has requested is not data which is ordinarily collected by either my Department or the Central Bank. However, I would refer the Deputy to the latest Central Bank publication for Residential Mortgage Arrears and Repossessions Statistics: Q2 2020 which includes, inter alia, includes data on mortgage restructuring arrangements
(https://www.centralbank.ie/statistics/data-and-analysis/credit-and-banking-statistics/mortgage-arrears).
The latest release shows that at end-June the total number of principal dwelling home (PDH) mortgage accounts classified as restructured stood at 77,789 and 87 per cent of these restructured PDH accounts were deemed to be meeting the terms of their arrangement, meaning that the borrower is, at a minimum, meeting the agreed monthly repayments according to the current restructure arrangement.
The Deputy may also wish to note that there are a number of public initiatives which are in place to assist people who are in mortgage or other debt difficulty. For example, the Abhaile service which is made up of the Insolvency Service of Ireland (ISI), the Legal Aid Board, the Money Advice and Budgeting Service (MABS) and the Citizens Information Board provides free financial, and where appropriate also legal, advice to people experiencing difficulty in meeting their loan commitments.
