New Government forum to oversee mortgage arrears reductions

Forum made up of the heads of various Government departments and bodies to look at ways to cut the 20,000 residential mortgages in long-term arrears

Finance Minister Jack Chambers said the dramatic shift in the interest rate cycle since July 2022 has had an impact on many borrowers. Picture: PA

A new forum made up of the heads of various Government departments and bodies is to be established to coordinate actions to cut the more than 20,000 residential mortgages that are in long-term arrears.

The establishment of the forum is one of the key recommendations of the Mortgage Arrears Review Group published by Finance Minister Jack Chambers.