Mortgage debt rules ‘forcing’ people to sell their homes

Central Bank mortgage debt deal rules are causing undue hardship and forcing people coming up to retirement to sell their homes, the chair of the Oireachtas finance committee has warned.

Cork TD Ciarán Lynch has written to governor of the Central Bank Patrick Honohan, urging him to change track in the face of fears the country is facing a surge in repossessions.

Mr Lynch has also called on the governor — who appears before the finance committee later this month — to intervene in the controversy over whether legal letters threatening to trigger repossessions can be included as “sustainable solution” offers to those trapped in debt.