Restructured Mortgages: Meeting the Terms of the Arrangement

I’ve been doing some analysis of the Central Bank quarterly figures relating to Restructured Mortgages

Q2 2014 is the latest set out
centralbank.ie/polstats/stat … istics.pdf

Restructured/rescheduled mortgages: 101,973

  • of which
    (a)
    81.2% are Meeting the Terms of the Arrangement (82,802)
    18.8% are NOT meeting the Terms of the Arrangement (19,171)
    (b)
    61.29% are NOT in arrears (62,500)
    38.71% are in arrears (39,473)

Restructures by most popular type:
Arrears Capitalisation: 25.18% of all restructures or 25,677

  • of which
    66.8% are Meeting the Terms of the Arrangement (17,152)
    33.2% are NOT meeting the Terms of the Arrangement (8,525)

Term Extension: 15.52% of all restructures or 15,830

  • of which
    87.5% are Meeting the Terms of the Arrangement (13,851)
    12.5% are NOT meeting the Terms of the Arrangement (1,979)

Reduced Payment (greater than interest only): 13.52% of all restructures or 13,785

  • of which
    87.3% are Meeting the Terms of the Arrangement (12,034)
    12.7% are NOT meeting the Terms of the Arrangement (1,751)

Other: 13.04% of all restructures or 13,295

  • of which
    85.6% are Meeting the Terms of the Arrangement (11,381)
    14.4% are NOT meeting the Terms of the Arrangement (1,914)

‘Other’ category mainly comprises accounts that have been offered a long-term solution, pending the completion of six months of successful payments. When these accounts transition into their permanent arrangement, the figures will be updated accordingly.
The ‘Other’ category also includes a small number of simultaneously-agreed term extensions and arrears capitalisation arrangements. From Q1 2012 to Q1 2013 this figure average less than 100.

Split Mortgage: 12.63% of all restructures or 12,882

  • of which
    96.4% are Meeting the Terms of the Arrangement (12,418)
    3.6% are NOT meeting the Terms of the Arrangement (464)

Interest Only - Up to 1 Year: 8.6% of all restructures or 8,771

  • of which
    82.9% are Meeting the Terms of the Arrangement (7,271)
    17.1% are NOT meeting the Terms of the Arrangement (1,500)

Reduced Payment (less than interest only): 3.57% of all restructures or 3,638

  • of which
    68.0% are Meeting the Terms of the Arrangement (2,474)
    32.0% are NOT meeting the Terms of the Arrangement (1,164)

Temporary Interest Rate Reduction: 3.29% of all restructures or 3,359

  • of which
    89.4% are Meeting the Terms of the Arrangement (3,003)
    10.6% are NOT meeting the Terms of the Arrangement (356)

Interest Only - Over 1 Year: 2.77% of all restructures or 2,829

  • of which
    91.5% are Meeting the Terms of the Arrangement (2,589)
    8.5% are NOT meeting the Terms of the Arrangement (240)

Payment Moratorium: 1.74% of all restructures or 1,773

  • of which
    94.4% are Meeting the Terms of the Arrangement (1,674)
    5.6% are NOT meeting the Terms of the Arrangement (99)

Deferred Interest Scheme: 0.09% of all restructures or 91

  • of which
    80.2% are Meeting the Terms of the Arrangement (73)
    19.8% are NOT meeting the Terms of the Arrangement (18)

Trade Down Mortgage: 0.02% of all restructures or 25

  • no breakdown given of % Meeting and NOT meeting the Terms of the Arrangement

Permanent Interest Rate Reduction: 0.02% of all restructures or 18

  • of which
    44.4% are Meeting the Terms of the Arrangement (8)
    55.6% are NOT meeting the Terms of the Arrangement (10)

Interesting post Jackal.

Out of interest, how can you fail to meet the terms of a payment moratorium?

By paying?

Haha. I was actually wondering the same thing myself!

:laughing: :laughing:

Updated analysis of the Central Bank quarterly figures - Restructured Mortgages Q3 2014

centralbank.ie/polstats/stat … istics.pdf








Might be my screen but that’s very hard to read, especially the red cells.
Softer colours perhaps?

Are you saying he needs to … restructure ?
:-GC

Ha! Q4 2014 figures about to go up. Let me know if the new colour is better…

Updated analysis of the Central Bank quarterly figures - Restructured Mortgages Q4 2014

centralbank.ie/polstats/stat … istics.pdf



Each month the Dept of Finance produce a report on progress on Restructuring Mortgages

The latest report, Jan-15 is here
finance.gov.ie/what-we-do/ba … ortgage-15

I wondered how these reports compared to the official figures produced by the Central Bank each quarter.

So on average in 2014 the report understated restructured Residential mortgages by on average -11,606 or -11.6%.

Banks yet to restructure 70pc of mortgage arrears cases

independent.ie/business/pers … 49575.html

Each month the Dept of Finance produce a report on progress on Restructuring Mortgages

We can compare these reports to the official figures produced by the Central Bank each quarter.

So on average in Q1 2014 to Q1 2015 the report understated restructured Residential mortgages by on average -1,693 or -6.9%.

So over a quarter of permanent solutions are by arrears capitalisation and over half of the temp solutions are interest only!

Update on Dept of Finance v Central Bank figures for Residential Restructured Mortgages

On average DoF monthly flash report is understating the true restructured figures by 9.9%

Updated analysis of the Central Bank quarterly figures - Restructured Mortgages Q2 2015

centralbank.ie/polstats/stat … istics.pdf



Each month the Dept of Finance produce a report on progress on Restructuring Mortgages

We can compare these reports to the official figures produced by the Central Bank each quarter.

Updated analysis of the Central Bank quarterly figures - Restructured Mortgages Q3 2015

Each month the Dept of Finance produce a report on progress on Restructuring Mortgages

We can compare these reports to the official figures produced by the Central Bank each quarter.

Updated analysis of the Central Bank quarterly figures - Restructured Mortgages Q1 2016



EDIT: make tables easier to read