Banks told ‘take long-term view’

THE number of homeowners looking for help from their bank has doubled in the last few months.

Banks have also been urged to take a longer term view to mortgage restructuring so that homeowners have more security.

According to the Central Bank, the number of new mortgage restructures has doubled in the latest quarter, up from 3,500 to 7,000. The bank said 39,395 mortgages that are not in arrears have been restructured. This includes offering the homeowner interest-only repayments, a mortgage-holiday or a reduced payment.