Calls to adopt ‘NAMA for the people’ initiative

THE Government has been urged to take a stake in the mounting mortgages being carried by ten of thousands of debt-ridden borrowers in a “NAMA for the people” style initiative.

Housing agency Threshold will in the coming days make its pre-budget submission to the Government which will focus on mortgage arrears and home repossessions.

Responding to a High Court case this week where a Tipperary couple were forced to give up their home, the agency called for an end to “cosmetic” measures being used to bail out borrowers.