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Banks to offer mortgage 'holiday' extension for three months

Banks prepare to offer further relief to those struggling with payments

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Approval: Colin Hunt, chief executive of AIB

Approval: Colin Hunt, chief executive of AIB

Collins Dublin, Gareth Chaney

Approval: Colin Hunt, chief executive of AIB

A second three-month payment break for borrowers hit by the Covid-19 outbreak could be unveiled within days, AIB chief executive Colin Hunt has told the Irish Independent.

The first three-month repayment holiday was announced in March and has seen a massive uptake.

But with much of the economy shut down and job losses and temporary layoffs continuing to soar, banks are preparing to extend the scheme.