Doing the splits can lessen mortgage burden

Split mortgages represent a viable solution for those who are struggling under the weight of their debt, writes David Hall.

Split mortgage options can benefit those struggling to meet their existing mortgage payments. Picture: Thinkstock

Last week, details of AIB's new split mortgage emerged. This new product is available to all customers who have their family home mortgage with AIB, EBS or Haven.

In a time of many different groups preaching aspirational solutions without precedent, evidence, track record or a guarantee of success, split mortgages - irrespective of one liking them - are a solution for people in mortgage difficulties.

Not all lenders offer a split mortgage product. ...