Dáil Éireann Debate, Thursday - 2 February 2017
91. Deputy Michael McGrath asked the Minister for Finance the proportion of borrowers in mortgage arrears of over 720 days who have not engaged with their lenders; and if he will make a statement on the matter. [5104/17]
Amharc ar fhreagra92. Deputy Michael McGrath asked the Minister for Finance the proportion of borrowers in mortgage arrears of over 720 days who have not completed the mortgage arrears resolution process; and if he will make a statement on the matter. [5105/17]
Amharc ar fhreagraI propose to take Questions Nos. 91 and 92 together.
In respect of the proportion of borrowers in mortgage arrears over 720 days that have not engaged with their lenders and the proportion of borrowers in mortgage arrears over 720 days that have not completed the mortgage arrears process, the Central Bank only publishes information on the total number of mortgage accounts which are over 720 days in arrears. Therefore it is not possible to provide the requested breakdown.
However, I would refer the Deputy to the most recent Central Bank Residential Mortgage Arrears & Restructures bulletin to end Q3-2016 on the Central Bank website which shows that mortgage accounts in arrears of over 720 days have declined for 5 consecutive quarters, having fallen for the first time in Q3 2015.
In addition I would also draw the Deputy's attention to the recent Central Bank Report on Mortgage Arrears (see pages 28-29) http://www.finance.gov.ie/sites/default/files/Mortgage%20Arrears%20Report%20-%20FINAL.pdf which features information on borrower engagement and modification. This data (Box 3 in the report) is based on Standard Financial Statement data. Chart A in the report shows engagement (as per a noted definition) per Days Past Due cohort.
