‘Families must get mortgage arrears solutions’

The Central Bank needs to intervene with lenders to ensure they are giving struggling families sustainable mortgage debt solutions, and not just crisis management options, a TD has warned.

Ciarán Lynch, chairman of the Oireachtas finance committee, is concerned that official figures hide the true picture of debt misery.

The Cork TD, who also heads the Oireachtas probe into the banking collapse, wants the Central Bank to tell lenders they need to be more transparent about how they are treating households with repayment problems.