BANKS have yet to restructure repayments on thousands of home loans that are in default.

New figures out this morning show that seven out of 10 mortgages that are in arrears have still to be sorted out to get the mortgage holders back on track.

The six main banks put restructures in place for close to 20,000 borrowers who are in trouble meeting their payments in November.

But there still remains more than 45,000 residential mortgage accounts that are three months or more in arrears that have yet to be restructured, according to figures from the Department of Finance.

AIB/EBS, Bank of Ireland, Ulster Bank, KBC Bank, Permanent TSB and ACC have 64,000 residential mortgage accounts in arrears for three months or more.

But just 29pc of these were restructured in November, the same percentage for the previous three months.

However, there has been a slight fall in the overall number of mortgages in arrears for 90 days or more at the six banks. People getting back into work are getting back on top of their mortgage difficulties.

Banks have been heavily criticised by the Free Legal Advice Centres (FLAC) for their failure to tackle the arrears crisis, particularly cases where people are in arrears for more than two years.

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