The Central Bank has said more action is needed from mortgage lenders to deal with long term mortgage arrears. Deputy Governor Ed Sibley said there are wider issues associated with the legacy of mortgage arrears including the cost of credit for all borrowers and the attractiveness of the Irish mortgage market for new entrants.
The Deputy Governor's remarks coincided with the publication of four separate reports on the mortgage market from the Central Bank today.
One report finds that as of March this year, 95,000 accounts or 13% of all principal dwelling mortgages will have some shortfall in repayments at the end of their term.