IDEAS home Printed from https://ideas.repec.org/p/cbi/fsnote/7-fs-18.html
   My bibliography  Save this paper

Long-Term Mortgage Arrears in Ireland

Author

Listed:
  • O'Malley, Terry

    (Central Bank of Ireland)

Abstract

Approximately 29,000 residential mortgages in Ireland have accumulated at least two years worth of missed payments as of March 2018. In this paper, I analyse a sample of these mortgages in long-term arrears. By end-2017, the number of loans entering long-term mortgage arrears slowed to its lowest rate since the crisis began. The number of loans leaving long-term arrears has also generally slowed. Roughly half of the loans leaving long-term arrears in 2017 are due to voluntary and involuntary loss of ownership, compared with less than a third three years ago. The remaining longterm arrears mortgages have an average arrears balance of €66,000 and the estimated average loan-to-value ratio is close to 90%. The balances in arrears are on average around one fifth of the estimated value of the property.

Suggested Citation

  • O'Malley, Terry, 2018. "Long-Term Mortgage Arrears in Ireland," Financial Stability Notes 7/FS/18, Central Bank of Ireland.
  • Handle: RePEc:cbi:fsnote:7/fs/18
    as

    Download full text from publisher

    File URL: https://www.centralbank.ie/docs/default-source/publications/financial-stability-notes/no-7-long-term-mortgage-arrears-in-ireland-(o'malley).pdf?sfvrsn=5
    Download Restriction: no

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbi:fsnote:7/fs/18. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Fiona Farrelly). General contact details of provider: http://edirc.repec.org/data/cbigvie.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.