Study reveals support for mortgage debt forgiveness

Almost three quarters of Irish people think a debt forgiveness scheme should be put in place for people struggling to pay their mortgage.

The survey in the Sunday Independent comes after the European Central Bank raised interest rates this week, adding around €390 a year on to the average mortgage.

The study also reveals that people are concerned the mortgage arrears problem is the next big crisis facing the country.

Karl Deeter of Irish Mortgage Brokers has said the issue of moral hazard should not arise, because there are similar subsidies already in place.