Interest-only mortgages 'driving people deeper into debt'

Mortgage holders have been warned against accepting interest-only mortgages or mortgage moratoriums from their lender.

Interest-only mortgages 'driving people deeper into debt'
Thu, 22 Jul, 2010 - 13:51

Mortgage holders have been warned against accepting interest-only mortgages or mortgage moratoriums from their lender.

Taking up these options means homeowners "will be driven into deeper debt", said chairman of the Debt Management Association of Ireland (DMAI) Eugene McDarby.

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CourtsHeathrowPerson: Eugene McDarbyPerson: McDarbyOrganisation: Debt Management Association of IrelandOrganisation: DMAI
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