Mortgages may be settled after death

Lenders are coming under renewed pressure from the Central Bank to find sustainable solutions to mortgage arrears cases.

15th June, 2014

Rescheduled loans, which must be paid into retirement and lifetime tenancies where a home is sold on the death of the owner to settle an outstanding mortgage, must be considered by banks dealing with distressed borrowers, according to new Central Bank guidelines.

Lenders are coming under renewed pressure from the Central Bank to find sustainable solutions to mortgage arrears cases, as the next quarterly target for arrears resolution looms for banks.

The Central Bank has...

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