The number of mortgages in arrears is continuing to fall. 136,564 accounts - or 17.9% of the total number - were in some form of arrears at the end of last year.

It compares to a level of 18.4% at the end of the third quarter of 2013.

New figures from the Central Bank show that mortgages in arrears of less than 90 days fell by 5.7%.

Accounts behind in repayments by more than 90 days dropped by 2.3%. This was the first such fall since September of 2009.

However the number of mortgages in long-term arrears of over 720 days increased buy more than 1,700.