Longford has highest level of residential mortgage arrears in country

Alan Walsh

Reporter:

Alan Walsh

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At 19%, County Longford has the highest level of residential mortgage arrears in the country, according to Central Bank figures released today.

At 19%, County Longford has the highest level of residential mortgage arrears in the country, according to Central Bank figures released today.

It is the first occasion the Central Bank has broken down the level of default on home loans on a county by county basis and according to the Loan Level Data from June 2014, Longford has the highest default rate.

The average level of arrears nationally, measured by mortgage accounts in arrears of 90 days or more, is 11.2%. However, there is considerable variation across the country.

The data illustrates that counties in the border and midlands regions were worst hit by the economic collapse.

The arrears rate in neighbouring Cavan is 17%, while Meath, Louth, Laois and Leitrim had arrears levels of 16%.

Default rates were lowest in Cork 10%, Tipperary 10.5% and Mayo 10.5% while the rate in Dublin was at the national average of 11%.