Banks should help on home loans

IF the Government and banks do nothing to help the 30,000 house owners who are having serious difficulties paying their mortgage it could cost more in the long run.

This is according to brokers and support groups who yesterday urged the Government to listen to the advice of the International Monetary Fund (IMF) and put a scheme in place to assist homeowners in arrears.

In a review of Ireland, the IMF, which oversees the global financial system, said now that the banks have more capital they could absorb the initial costs of some form of assistance for those who are finding it difficult to pay their mortgage.