People need a working service - Mortgage arrears

A REVIEW is to be carried out by the Central Bank of targets set for banks to deal with mortgage arrears. It is expected the outcome will be concluded by the end of next month.

This follows an initiative being driven by the Taoiseach’s department to step up measures to reduce the number of people who are in long-term difficulties with home loans.

Despite an improving and growing economy and an increasing reduction in the numbers of those without jobs, there are still 37,000 mortgage accounts two years or more behind on repayments. While some won’t pay, most can’t pay.