One of the biggest mortgage lenders in Ireland has said the number of people who are in arrears for more than three months has continued to rise since the start of the year.
Irish Life & Permanent, which is loss-making, said there were signs the number of people starting to get into difficulties with their mortgage repayments was levelling off.
However people already in difficulty with their mortgages are getting into deeper water.
Around 4% of Permanent TSB’s mortgage book is in arrears.
It said salary cuts and joblessness is causing damage in the pensions’ market with premiums into corporate pension schemes down by almost one third.
Irish Life & Permanent is holding its annual general meeting later this morning.
Shareholders will hear updates on the company’s plans to shed its loss-making Permanent TSB brand, which is now damaging the wider group.
