Saturday September 19, 2020

Troika visit cranks up the pressure on arrears issue

There is still a bit of time left for the banks to submit progress reports on offering solutions to borrowers in mortgage arrears, but problems are brewing, writes Emma Kennedy.

6th July, 2013
The Central Bank: voluntary surrender is increasingly being proposed by lenders as a solution to mortgage arrears.

An impending troika visit to Ireland means that tensions are mounting between lenders and the Central Bank over how best to deal with mortgage arrears.

Banks face an uphill battle, as they must comply with strict targets on solutions for borrowers in debt.

The troika's next visit to Dublin, which will start this week, will crank up the pressure on the government and, in turn, the Central Bank and lenders, to tackle the mortgage arrears...

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