MORTGAGE ARREARS
Home owners who have already negotiated payment breaks on their mortgages may also be able to avoid paying interest on up to a third of their loans over several years under new Government proposals due to be published this week.
Home owners who have already negotiated payment breaks on their mortgages may also be able to avoid paying interest on up to a third of their loans over several years under new Government proposals due to be published this week.
Banks have renegotiated the terms on up to €10 billion in mortgages for hard-pressed borrowers, according to a report in The Sunday Tribune.
Banks face foregoing millions of euro in mortgage repayment income as a result of radical recommendations from a Department of Finance expert committee that would allow struggling debtors delay payment on up to 33% of their home loans for several years, The Sunday Independent reports.
EBS mortgage customers currently suffering negative equity can forget about having their debt forgiven as part of a takeover deal for the beleaguered building society, The Sunday Tribune reports.
Bad news on the horizon for anyone canny enough to have taken out a tracker mortgage to pay for investment property. Permanent TSB is apparently plotting what The Sunday Tribune describes as a “controversial assault on loss-making tracker mortgages by resetting the monthly payments it charges investment property borrowers”