The Central Bank figures show 120,894 household mortgages had been restructured at the end of March, with 87% of these restructured loans meeting the new terms of their agreements.

The number of buy-to-let (BTL) mortgages with arrears of more than 90 days also fell (-2.4%) in the first three months of the year.

14,367 BTL loans were in arrears for more than 720 days with an outstanding balance of €4.2 billion, the Central Bank figures also show.