The Department of Finance reports monthly on  the restructure  situation in relation to all principal dwelling house (PDH) mortgages whether they are in arrears or not. This report involves the 6 main banks operating in Ireland and who represent 90% of the market - AIB, Bank of Ireland, PTSB, ACC, KBC Ireland & Ulster Bank.

The latest report as at the end of November 2013 for PDH shows that engagement between consumers and lenders has led to 49,304 permanent mortgage restructures, an increase of 8,068 accounts since the end of August 2013. The number of mortgage accounts in arrears of greater than 90 days has fallen from 80,854 to 80,487, a drop of 367 accounts while total temporary restructures continue to fall, indicating a move towards a greater utilisation of total permanent restructures which have increased this month by 272 accounts.

With regard to buy-to-let dwellings (BTL) at the end of November 2013 10,316 permanent restructures are in place, an increase of 296 on the previous month. There has been a marginal increase this month in restructures of accounts in arrears greater than 90 days, with 5,528 accounts in this category restructured. 

Do you have any questions? 

Feel free to contact Paul on +353 (0) 1 677 9000 or by email for a complimentary confidential consultation.

Paul Leonard is a Partner at Cooney Carey. Paul has 20+ years of experience working as a business adviser and his areas of expertise are: audit, forensic accountant in investigations and a range of legal cases including family law matters, bank negotiations, business re-structuring, company valuations and dispute resolution. His qualifications include being a Fellow of the Institute of Chartered Accountants in Ireland, a Chartered Management Consultant, a qualified Forensic Accountant and an Accredited Mediator.

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