Mortgage arrears may follow 20,000 into retirement

More than 9,300 mortgages held by over-60s in arrears and of questionable sustainability

Concerns have been raised about people finishing their working lives and entering into retirement without paying down their mortgages. Photograph: Dominic Lipinski/PA

Concerns have been raised about people finishing their working lives and entering into retirement without paying down their mortgages. Photograph: Dominic Lipinski/PA

More than 20,000 Irish mortgage holders are facing the prospect of carrying non-performing mortgage debt into retirement, figures from the Central Bank of Ireland show.

A total of 22,264 mortgage accounts held by people over 50 are in arrears, with almost half – 9,370 – aged 60 or above. A majority of the accounts are in deep arrears, with borrowers more than 720 days behind on their payments.

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