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Irish long-term mortgage arrears fall for first time since '08 property crash

Reuters - UK Focus

DUBLIN, Dec 11 (Reuters) - The number of Irish mortgage holders more than two years behind in payments fell in the third quarter for the first time since Ireland (Other OTC: IRLD - news) 's property crash, data showed on Friday, while those more than 90 days in arrears fell to a four-year low.

The Central Bank said the proportion of residential mortgages in arrears over 720 days declined for the first time since Ireland's 2008 property crash, with 774 fewer cases, a 2 percent fall. The number in arrears for one to two years fell 14 percent.

Those in arrears over 90 days fell to 8.7 percent in the quarter, the eighth successive quarterly fall and down from 9.3 percent in the previous three months. (Reporting by Conor Humphries; Editing by Hugh Lawson)