UK Markets open in 7 hrs 47 mins

Irish buy-to-let arrears inch back down in third quarter

DUBLIN, Jan 28 (Reuters) - The proportion of Irish residential investment property loans in arrears over 90 days inched back down in the third quarter after rising unexpectedly to the highest level in more than a year in the previous three months, central bank data showed on Tuesday.

The amount of so-called buy-to-let loans in arrears fell to 13.9% from 14.9% in the second quarter, the lowest level since the bank began to collect data in 2012. It peaked at 22.1% two years later in the aftermath of a spectacular property crash.

The proportion of homeowners in arrears for more than three months fell to a nine-year-low of 5.9% from 6% at the end of June. The central bank added that the decline in the numbers in deep arrears of two years or more decreased marginally. (Reporting by Padraic Halpin; Editing by Andrew Heavens)