MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • Central Bank to prioritise arrears crisis, insists Honohan
Uncategorized
Feb 11, 2013 - 12:19

Central Bank to prioritise arrears crisis, insists Honohan

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Central Bank to prioritise arrears crisis, insists Honohan

Governor of the Central Bank Patrick Honohan has hit out at banks for failing to tackle the mortgage arrears crisis head on.

Speaking on RTÉ’s Week in Politics, Professor Honohan said senior management at the Central Bank were “tearing their hair out” at the lack of action from banks to get people “back on target” but said they would be making the issue a priority now that a deal had been secured on the nation’s debt.

He said the Central Bank were even considering issuing directions to lenders on how to deal with arrears, such was their concern at the issue.

Around 17% of homeowners are currently in arrears with Prof Honohan insisting that progress on restructuring loans was “not good enough”

Advertisement

"They're (homeowners in arrears) not being dealt with in sufficient numbers and that's why we're tearing our hair out... this simply isn't good enough.

"There's ongoing progress to get them to work more quickly, the sorting of people who have to be brought back on target and those who need relief.

"I'm not satisfied at all that the banks have made as much progress as I would have expected.

"They haven't made up their minds exactly how to make these choices and as time goes on, we're getting close to being more directive," Prof Honohan said.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • arrears
  • banks
  • Central Bank
  • crisis
  • debt
  • Governor
  • homeowners
  • lenders
  • loans
  • management
  • mortgage
  • mortgage arrears
  • Patrick Honohan
  • relief
  • RTÉ
  • Week in Politics
The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement