Saturday 3 December 2016

Lenders must now be forced to sort out this crisis

Published 08/05/2015 | 02:30

Close to 38,000 residential mortgage accounts are now more than two years in arrears
Close to 38,000 residential mortgage accounts are now more than two years in arrears

Finance Minister Michael Noonan has confirmed that the veto banks have over mortgage debt write-down deals will be weakened.

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The response to that from many people will be that they do not want to pay for the mortgage of someone else. Imposing solutions on banks will deplete their capital, funds that were provided by the taxpayer.

But do we really have any alternative?

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