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New Measures To Help Strugglin...

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New Measures To Help Struggling Homeowners

98FM
98FM

08:09 13 May 2015


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A special Cabinet meeting takes place later to discuss mortgage debts for struggling homeowners. 

Ministers will sign off on a package of measures to change current insolvency deals to help more people in debt.

Banks have been criticised for having control on any proposed mortgage arrears plan so this will be changed to give greater flexibility to homeowners. 

An overhaul of the mortgage to rent scheme will also be unveiled to allow more people to stay in their homes.

Giving greater power to the Money Advice and Budgeting Service is also on the cards. 

But a Labour proposal to cut bankruptcy from 3 years to 1 has been left out.

It's being referred to the Oireachtas Finance Committee for assessment instead. 


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