Officials warned ministers that mortgage holders must pay interest on mortgage break

Tánaiste and finance minister were advised by officials that mortgage holders would have to stump up extra interest or face ‘serious’ consequences

2nd August, 2020
Officials warned ministers that mortgage holders must pay interest on mortgage break
Briefing documents drawn up by Department of Finance officials before the May 11 meeting and circulated to both ministers offered guidance on a range of issues

Officials warned Tánaiste Leo Varadkar and Minister for Finance Paschal Donohoe that mortgage holders would have to pay back interest accrued during their payment breaks or risk facing “serious negative” consequences, prior to their meeting with bank bosses.

Briefing documents drawn up by Department of Finance officials before the May 11 meeting and circulated to both ministers offered guidance on a range of issues, including forbearance measures introduced during the Covid-19...

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