55,000 ‘struggling’ to pay mortgages

THE number of homeowners struggling to pay their mortgage has risen to 55,000 and banks are not doing enough to help them with their difficulties, according to the Minister for Social Protection Joan Burton.

As new figures from the Central Bank reveal a 10% rise in cases of mortgage arrears in the past three months, Ms Burton has called for an “early warning system” to identify those falling into difficulty.

A spokesman for the Irish Banking Federation said the figures, published today, show the problem has become “more challenging”.