‘Mortgage policy plan would let banks off the hook’

Potential Government plans to keep struggling mortgage holders in their homes by bailing them out with taxpayers’ money have been criticised by the opposition for effectively letting banks “off the hook”.

Fianna Fáil finance spokesman Michael McGrath made the claim as it emerged up to 1,000 mortgage holders are facing the prospect of being thrown out of their homes after court cases this week, with Central Bank figures suggesting 31,000 people could be facing the same fate.

The Coalition is considering addressing the burgeoning crisis by offering taxpayer-funded financial support to those in need.