Concerns over mortgage debt proposals

The Department of Finance is objecting to proposals by the Department of Justice to include mortgages in a new non-judicial debt settlement programme over fears it could undermine the banks, accordi

13th November, 2011
Alan Shatter, Minister for Justice. Photo: Getty

The Department of Finance is objecting to proposals by the Department of Justice to include mortgages in a new non-judicial debt settlement programme over fears it could undermine the banks, according to three people with knowledge of the discussions. Finance officials are concerned that allowing borrowers to easily discharge large, secured mortgage debts could raise the cost to banks and taxpayers of the new regime to unacceptable levels. They are particularly concerned about compromising the...

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