Fall in mortgage arrears cases ‘painfully slow’

The reduction in mortgage arrears is “painfully slow” and any solution based on the main banks selling on their distressed home loan books to vulture funds without writing down debt to distressed borrowers will make matters worse, the policy head of the Free Legal Advice Centres (Flac) has warned.

Fall in mortgage arrears cases ‘painfully slow’

By Eamon Quinn

The reduction in mortgage arrears is “painfully slow” and any solution based on the main banks selling on their distressed home loan books to vulture funds without writing down debt to distressed borrowers will make matters worse, the policy head of the Free Legal Advice Centres (Flac) has warned.

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