Call for budget measures over 'entrenched' long-term mortgage arrears crisis

It comes as new Central Bank figures show that long-term arrears “are entrenched” as ever, with 27,979 mortgage accounts in arrears for over two years at the end of March -- an unexpected increase since the start of the year, said the senior policy analyst at the Free Legal Advice Centres, or Flac.

Long-term mortgage arrears is causing financial misery for thousands of households and the Government should prioritise measures in October’s budget to help distressed borrowers, leading legal and debt adviser Paul Joyce, has said.

The call comes as new Central Bank figures show that long-term arrears “are entrenched” as ever, with 27,979 mortgage accounts in arrears for over two years at the end of March -- an unexpected increase since the start of the year, said the senior policy analyst at the Free Legal Advice Centres, or Flac.