IBRC annual report for 2011 - Irish Bank Resolution Corporation ...

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Supplementary information (unaudited) continuedAdditional residential mortgage information (continued)Aged analysis of residential mortgages past due but not impairedPast due 1 to 30 daysPast due 31 to 60 daysPast due 61 to 90 daysPast due 91 days to 180 daysPast due 181 days to 360 daysPast due 361 days and overTotal31 December 2011Owner Buy toOccupier Let Total€m €m €m45 4 4923 2 2565 10 7525 3 2827 4 3130 7 37215 30 245All loans which are more than 60 days past due are considered to be at risk and are included in the pool of loans that are assessed forspecific impairment. In cases where a provision is necessary the loan is considered impaired and is reported in the impaired loanbalances.Further information on the Bank's overall approach to the management of credit risk relating to its mortgage portfolio can be found innote 50 to the financial statements.Loan origination profile of residential mortgages beforeprovisions for impairment31 December 2011Impaired residentialResidential mortgagesmortgagesNumber €m Number €m1996 and before 2,182 38 50 21997 716 18 19 11998 823 30 48 41999 908 43 63 82000 692 40 83 102001 744 54 116 182002 1,181 102 198 302003 1,553 154 332 522004 2,286 283 639 1132005 2,233 288 701 1382006 2,370 404 860 2132007 1,909 335 752 1952008 486 45 107 172009 91 5 11 12010 173 27 4 12011 35 7 - -Total 18,382 1,873 3,983 803The above table summarises the total number of loan accounts and balances by year of origination. In certain scenarios more than oneloan can be secured on an individual property. This would normally arise where a customer availed of an equity release loan after theinitial mortgage origination. Where a customer facility has been classified as impaired, both the original mortgage and the subsequentequity release loan, if one exists, are classified as impaired. All loans are shown in the year in which they were originally drawn down.The total number of individual properties within the portfolio is approximately 13,615 (owner occupier 11,429, buy to let 2,186).170
Irish Bank Resolution Corporation LimitedAnnual Report & Accounts 2011Loan to value ('LTV') information on residential mortgagesThe Bank’s primary security for its residential mortgage lending portfolio is the underlying property, and therefore LTV is an importantfactor when assessing credit risk. However, it is not the only factor used when determining the overall credit quality of a facility. Therepayment history and the current and future capability of the borrower to repay the debt are equally important considerations. Thehighest risk loans are those that are past due and have a high LTV.Actual LTVs across total mortgage portfolio 31 December 2011Owner Buy toOccupier Let Total Total€m €m €m %Less than 50% 255 46 301 16%50% to 70% 155 20 175 9%71% to 80% 87 15 102 6%81% to 90% 99 15 114 6%91% to 100% 111 26 137 7%101% to 120% 213 41 254 14%121% to 150% 252 72 324 17%Greater than 150% 268 198 466 25%Total 1,440 433 1,873 100%Average LTV 108% 152% 119%Average LTV has been estimated based on indexing the most recently available property valuations against a combination of thePTSB/ESRI and CSO house price indices. At 31 December 2011 the CSO house price index estimated a peak to trough fall of 43%outside Dublin (peak September 2007) and 55% in the Dublin region (peak February 2007).Actual LTVs across performing mortgage portfolio 31 December 2011Owner Buy toOccupier Let Total Total€m €m €m %Less than 50% 242 33 275 26%50% to 70% 149 18 167 16%71% to 80% 68 8 76 7%81% to 90% 70 6 76 7%91% to 100% 77 9 86 8%101% to 120% 140 10 150 14%121% to 150% 138 10 148 14%Greater than 150% 79 13 92 8%Total 963 107 1,070 100%Average LTV 85% 97% 87%171
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Irish Bank Resolution Corporation L
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ContentsIrish Bank Resolution Corpo
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Chairman’s statementIrish Bank Re
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Group Chief Executive’s reviewIri
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Business review continuedIrish Bank
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Board of DirectorsIrish Bank Resolu
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Corporate Responsibility continuedI
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Principal risks and uncertainties c
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Principal risks and uncertainties c
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Report of the DirectorsIrish Bank R
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Corporate governance statementIrish
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Corporate governance statement cont
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OpinionIn our opinion:• the Group
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Bank statement of financial positio
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