Coalition accused of U-turn on mortgages

THE Government was accused of abandoning six key promises to ease pressure on debt-ridden homeowners as a debate on the Keane mortgage report got under way.

It comes as Fianna Fáil moves to pass a bill that would establish a debt resolution agency, based on former proposals from the Law Reform Commission.

Finance Minister Michael Noonan defended the recent report on the mortgage crisis and claimed many families had gone into arrears because of an “income shock” and changes to their personal finances.