Pledge to aid mortgage holders

THE Government has pledged to help mortgage holders in difficulty as fears mount many more could be plunged into arrears.

Tánaiste Eamon Gilmore said the Government is looking at options to help homeowners that include increasing mortgage interest relief. He said the Government is also hoping to get banks to cut costs so they can absorb rate increases.

Homeowners have been told it is probably now too late to fix their mortgage rate as many banks have priced themselves out of the market.