Cabinet to discuss new regulations to deal with serious mortgage arrears – TheLiberal.ie – Our News, Your Views

Cabinet to discuss new regulations to deal with serious mortgage arrears




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The issue of mortgage arrears keeps raising its head, and despite many promises to the contrary, the Government have not yet done any significant work on it.

It has emerged today that new regulations are being considered whereby people whose mortgages are in serious arrears could be allowed to stay in their homes.

One proposal is to have a mortgage-to-rent scheme, so that borrowers may lose ownership of their home, but stay in it as renters.

Another proposal might enable borrowers to get state support to help pay their mortgage, while retaining ownership.

These proposals will be discussed by senior ministers at the Economic Management Council next week.

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