Regulator calls for ‘sense of realism’ in helping those in mortgage arrears

MORTGAGE arrears and repossessions have increased in the first three months of the year but people need to get real on helping those in difficulties, says the financial regulator.

Matthew Elderfield said that in seeking to assist households in difficulty, we need to recognise that the cost of any support will be borne by people who avoided excessive borrowing or are “gritting their teeth and meeting their obligations”.

Speaking to the Insurance Institute of Ireland he called for a “sense of realism” about calls for measures to help people in difficulty with their mortgages.