Critics claim mortgage report protects the banks

THE backlash against the Government’s plan to solve the mortgage crisis continued yesterday, with campaigners claiming it protects the banks instead of those in debt and doesn’t go far enough.

The Keane report proposes allowing borrowers to give up their homes and rent them back; warehouse part of the loan; or carry on the negative equity while moving into smaller accommodation.

Clare Dooley, founder of Smile Ireland, set up in response to the personal debt crisis, said many of the measures in the report were “unjust”.