Measures Agreed For Local Authority Mortgage Borrowers Facing Difficulties In Meeting Repayments

The Housing Minister says steps to support local authority mortgage borrowers have been agreed.

Eoghan Murphy says it will ensure a mortgage payment break of up to 3 months will be made available to those who need it.
Minister Murphy says the approach being rolled out in the local authority sector, will ensure no extra costs to the original home loan balance will arise for the borrower who avails of these measures, as they're not charged interest for the period of the break.

He's bringing in a simplified application process so borrowers in distress can access the payment break quickly. The break is available to those who've already faced mortgage difficulties due to the Covid-19 emergency and those who may encounter difficulties in the near future. The Minister says any local authority borrower facing hardship due to the coronavirus are urged to contact their local authority as soon as possible.