Calls for long-term help for those in mortgage arrears
Figures released by the Central Bank show that at the end of March, 86,271 borrowers were more than 90 days behind on their mortgage or had their loan refinanced, up from 79,173 at the end of last year.
Managing director of Select Finance Group, Trevor Grant, said that while we have to appreciate that banks have no prior experience of dealing with such a dire situation, a formal long-term solution needs to be identified by the Government and banks immediately.
