3-month delay for state action on debt

STRUGGLING homeowners may have to wait for the budget in three months before action is taken to solve the mortgage crisis.

Figures showing more than 500 people a week are falling into mortgage arrears have added pressure on the Government to find a solution. The Central Bank statistics, showing one in 10 home loans are not being fully repaid, will be discussed at today’s Cabinet meeting — the first after the holidays.

But a decision on how to proceed will not be made until after an expert group reports on the issue at the end of September.