Mortgage plan ‘vague and lacking in urgency’

THE Government’s plan to solve the mortgage debt crisis has been criticised as vague and lacking in urgency, amid claims it backtracked on key election promises.

Under the central plank of the Keane report, which again ruled out blanket debt forgiveness, up to 10,000 people could lose ownership of their homes and instead pay rent to keep the same roof over their heads.

Despite claims the measures could ease pressures for mortgage holders, consumer and housing campaigners felt the plans did not go far enough.