Seanad looks to Scotland for inspiration on mortgage changes

PROPOSALS to help those in mortgage arrears based on a model adopted by the Scottish government will be discussed in the Seanad today.

Labour senators intend to discuss the issue of mortgage arrears in private members time in the Seanad this evening and are looking at the Scottish model as an example for Ireland to follow.

Recent Central Bank data on arrears and repossessions show that mortgage accounts in arrears over 90 days have almost doubled since September 2009, rising from over 26,000 accounts to almost 50,000 accounts in March of this year.