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)