Personal issues blamed for debts

Personal and lifestyle factors are increasingly being cited as the main cause of mortgage arrears by delinquent borrowers.

24th February, 2013

Personal and lifestyle factors are increasingly being cited as the main cause of mortgage arrears by delinquent borrowers, according to a new survey by debt management counsellors White Horse Mortgage Services.

White Horse, which has been managing arrears on behalf of Irish lenders since 2008, found that slightly more than one-third of borrowers in arrears last year said that either poor health, a relationship breakdown, overborrowing or financial mismanagement was behind their debt problems. It...

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