Taxpayer may foot mortgage hike bill

THE taxpayer may foot part of the cost for the recent spate of rate increases by the bank and building societies, according to Eugene McDarby, chairman of Debt Management Association of Ireland.

He claims over-indebted individuals will not be able to take the increase on their variable mortgages, and may be forced to avail of the mortgage interest supplement (MIS) scheme for the Department of Social Welfare.