Reforms to help borrowers in arrears

Struggling borrowers facing repossession of their home in the courts are expected to be offered increased legal support as part of the Coalition’s package of reforms on mortgage arrears.

The Economic Management Council of the Cabinet last night discussed the long-awaited reforms, designed to help borrowers in long-term arrears.

The measures are expected to be unveiled today. They include an expanded mortgage-to-rent scheme, reforms on how courts oversee insolvency deals for borrowers, and a review of the bankruptcy rules.