‘Ready-made solution’ for families in mortgage arrears exists, says insolvency expert

An insolvency expert, who was involved in a landmark High Court debt case, has urged local authorities to avail of an underused government-backed initiative to help ease the mortgage arrears crisis.

Personal insolvency practitioner (PIP) Alan McGee, who registered as Cork’s first PIP in 2013, said there is a ready-made solution which could help struggling families at risk of losing their homes.

“I believe there is great potential for local authorities to use the national mortgage-to-rent scheme which unfortunately has not been utilised in any substantial numbers,” he said.