Flac: Average long-term mortgage arrears are €77,000

The only solution to the country’s deep-seated mortgages arrears problem is for banks to write off debt for households who have faced long-term distress, the country’s leading debt advocate has said, as new figures showed the banks were making slow progress in resolving the home loans crisis.

Flac: Average long-term mortgage arrears are €77,000

By Eamon Quinn

The only solution to the country’s deep-seated mortgages arrears problem is for banks to write off debt for households who have faced long-term distress, the country’s leading debt advocate has said, as new figures showed the banks were making slow progress in resolving the home loans crisis.

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