BTL Mortgage Arrears, Restructures and Repossessions Q4 2014 figures (Note 1: Residential figures are discussed separately here
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(Note 2: Analysis of Restructured Mortgages can be found here
viewtopic.php?f=19&t=63422)
Report Linkhttp://www.centralbank.ie/polstats/stat ... tistics.pdArrears
Repossessions
Restructures
Where Green = highest since records began and Blue = Lowest since records began
Conclusions1. Arrears went from 31,619 Q3 2014 (22.1%) to 29,224 Q4 2014 (20.7%), a fall of -2,395 or -7.6%
2. 29,224 (20.7% of all BTLs) in arrears over 90 days + 25,334 (18.0% of all BTLs) restructured =
54,558 or 38.7% of all BTLs in trouble of some sort (down from 56,561 or 39.5% in Q3 2014)
3. The arrears cases over 90 days (29,224) which is 20.7% of all BTL mortgages outstanding, has resulted in repossessions of just 460 properties in the 12 months from Q1 2014 and Q4 2014 = 1.57%
And 2/3 of these were voluntarily surrendered.
BTL properties repossessed on foot of an Order between Q1 2014 and Q4 2014 was 170 or just 0.58%, meaning
only
1 in 172 BTL mortgages in arrears over 90 days are repossessed by court order.
This despite there being
6,815 mortgages over 1 year in arrears and a further 15,386 over 2 years or more in arrears