Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Eamonn Farrell/RollingNews.ie

Storm Emma caused higher levels of mortgage arrears as customers missed in-branch payments

The number of accounts in arrears over 720 days has fallen but these cases still account for 41% of all accounts in arrears.

SEVERE WEATHER CONDITIONS earlier this year contributed to an increased in mortgage arrears levels, according to the Central Bank, because people were unable to get to their bank branches to hand over their monthly payments.

Statistics for the first quarter of this year reveal 71,833 principal dwellings were in arrears at the end of March. That is an increase of 316 accounts over the quarter. The Central Bank said the increase compared with the end of December figures is “due to ‘Storm Emma’ impacting people being able to make payments at their branch”.

The number of principal dwelling houses in arrears over 90 days continued to decline, as well as the number of accounts in arrears over 720 days, though these accounts now constitute 41% of all accounts in arrears and 90% of balances outstanding (around €2.6 billion).

There are also 22,545 buy-to-let properties in arrears, a decrease of 3.2% on December’s figures.

During the first quarter of this year, legal proceedings were issued on 828 primary dwelling house accounts. In 252 accounts, the courts granted an order for possession or sale of the property.

There were 1,658 properties in the lenders’ possession on 1 January and a total of 321 properties were taken into possession by lenders up to the end of March. The majority of these were voluntarily surrendered or abandoned. The remainder, 62, were repossessed on foot of a court order.

During the quarter 174 properties were sold on by lenders. At the end of March they had 1,802 properties that had been either repossessed, abandoned or surrendered.

More than 117,000 primary dwelling house accounts were categorised as restructured at the end of March, a reduction of 1,519 accounts compared to December.

The majority (86%) of these accounts were deemed to be meeting the terms of the arrangement and 78% of them were not in arrears at the end of the quarter.

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Close
11 Comments
This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
Leave a Comment
    Install the app to use these features.
    Mute tmwtbc
    Favourite tmwtbc
    Report
    Jul 10th 2015, 5:01 PM

    I honestly thought that was Graham Dwyer in the lead photo.

    273
    Install the app to use these features.
    Mute James Mc Loughlin
    Favourite James Mc Loughlin
    Report
    Jul 10th 2015, 9:28 PM

    this bridge was up graded and now some fool wants to remove it .can you picture the traffic back up with children trying to cross the road.in the first place the road is too wide and would need an island in the middle of this all ready conjested road.leave it alone and keep death off the road.the dublin city counciller who thought up this mad idea should jack in the job

    37
    Install the app to use these features.
    Mute Beachmaster
    Favourite Beachmaster
    Report
    Jul 10th 2015, 4:40 PM

    I’d advise people to be very careful about what you comment about this article….wouldn’t want it to be used as an example of how politicians are being given a hard time online.

    144
    Install the app to use these features.
    Mute Ray Farrelly
    Favourite Ray Farrelly
    Report
    Jul 10th 2015, 4:45 PM

    He will looking for a job after the next election.

    110
    Install the app to use these features.
    Mute Pharmyco
    Favourite Pharmyco
    Report
    Jul 10th 2015, 4:45 PM

    A hard time? I’m sure the minister can stand up for himself

    75
    See 2 more replies ▾
    Install the app to use these features.
    Mute Donal O'Brien
    Favourite Donal O'Brien
    Report
    Jul 10th 2015, 6:37 PM

    His teaching job will be there waiting for him.

    43
    Install the app to use these features.
    Mute Ray Farrelly
    Favourite Ray Farrelly
    Report
    Jul 10th 2015, 6:44 PM

    I wonder will he be welcome back in the north wall.

    23
    Install the app to use these features.
    Mute Éamonn Mac Eochaidh
    Favourite Éamonn Mac Eochaidh
    Report
    Jul 10th 2015, 4:48 PM

    What next – somebody using Fidelma Healy Eames or Lorraine Higgins’ photos to attract a man on Tinder, or worse?

    135
    Install the app to use these features.
    Mute Colin Webber
    Favourite Colin Webber
    Report
    Jul 10th 2015, 6:32 PM

    I think Fidelma Healy Eames is incredibly attractive. Seriously. She’s a very good looking woman.

    24
    Install the app to use these features.
    Mute Miriam Kane
    Favourite Miriam Kane
    Report
    Jul 10th 2015, 4:48 PM

    Ha ha ha I wonder did he get any takers

    98
    Install the app to use these features.
    Mute Conor Power
    Favourite Conor Power
    Report
    Jul 10th 2015, 4:53 PM

    Who could forget the time hackers attacked Fianna Fail TD Micheal McGrath. They hacked his Facebook page so they could ‘like ‘Milf of the Day’. Those ‘hackers’ eh??

    http://www.dailyedge.ie/michael-mcgrath-milf-facebook-hack-1180951-Nov2013/

    90
    Install the app to use these features.
    Mute steve white
    Favourite steve white
    Report
    Jul 10th 2015, 9:20 PM

    because if he was really using Tinder he’d use a Irish Times file photo?

    18
    Install the app to use these features.
    Mute Vicko Aguilar
    Favourite Vicko Aguilar
    Report
    Jul 10th 2015, 5:33 PM

    And everyone has to believe the profile is not his!! Lol

    38
    Install the app to use these features.
    Mute laura b
    Favourite laura b
    Report
    Jul 10th 2015, 6:48 PM

    Wasted my vote on this clown ..I feel like a right mug

    37
    Install the app to use these features.
    Mute Del Bionic
    Favourite Del Bionic
    Report
    Jul 11th 2015, 3:14 AM

    Seems to be the only member of Labour talking sense these days, so why the wasted vote?

    6
    Install the app to use these features.
    Mute laura b
    Favourite laura b
    Report
    Jul 11th 2015, 3:34 PM

    Is that you Aodhain ?

    2
    Install the app to use these features.
    Mute Rashers Tierney
    Favourite Rashers Tierney
    Report
    Jul 10th 2015, 5:50 PM

    “The Master is unmarried, and is likely to remain so “.

    31
    Install the app to use these features.
    Mute Marc Power
    Favourite Marc Power
    Report
    Jul 10th 2015, 5:24 PM

    so what, ?…He’s an adult

    27
    Install the app to use these features.
    Mute Ignoreland
    Favourite Ignoreland
    Report
    Jul 10th 2015, 7:24 PM

    Polling the electorate…

    14
Submit a report
Please help us understand how this comment violates our community guidelines.
Thank you for the feedback
Your feedback has been sent to our team for review.

Leave a commentcancel

 
JournalTv
News in 60 seconds