# Central Bank publishes research on arrears statistics



## Brendan Burgess (2 Oct 2013)

*Mortgage Arrears in Ireland: Introducing the Enhanced Quarterly Statistics *reviews  the new data on mortgage arrears, describes the recent trends in  arrears and restructures, and provides an analysis of the current  situation and the types of resolution strategies undertaken by lenders  to date, highlighting: 


The new data have addressed a number of data gaps and have  delivered some crucial insights into the developments in arrears and the  types of modifications offered by mortgage lenders.  They provide a  more comprehensive picture of arrears by duration, as well as details on  the quantity and type of restructuring activity undertaken by lenders,  and the level of compliance by borrowers with the terms of their  restructure arrangements.
The most recent trends in the arrears data indicate that the  formation of new arrears is declining.  However, longer-term arrears of  over 720 days continue to increase.  This suggests that there is a  significant quantity of distressed mortgages that are showing no signs  of improvement and are simply transitioning through to the more advanced  stages of arrears.
New flows data relating to restructuring activity shows that  23,500 PDH accounts were granted new restructure arrangements during the  second quarter of 2013.  Interest-only and reduced payment (greater  than interest only) accounted for over half of these.


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