Hundreds of people who signed up to shared ownerships schemes could be in for a windfall as Cork County Council is to ask the Government to relax the repayment systems.

More than 36,350 home-owners in long-term arrears have little or no chance of ever repaying their mortgage, experts believe.

The Ukrainian government says it cannot pay off its $3bn debt to Russia without violating its debt-restructuring deal with other international creditors.

Affordable and sustainable repayment schedules are required to protect vulnerable consumers should a proposed state debt collection agency be established.