Numbers seeking mortgage assistance up 70% this year

Monday, 24 November 2008

The number of people seeking help from the Government to pay their mortgages has reportedly increased by 70% since the start of this year.

Reports this morning say 7,000 people are now receiving assistance from the Department of Social and Family Affairs, up from 4,000 last December.

The Health Service Executive administers a special scheme on behalf of the department to provide short-term relief to people struggling to meet their mortgage repayments.

The average weekly payment is just over €90.

The scheme cost €12m last year, but this has more than doubled this year and is expected to cost more than €30m in 2009.

The Money Advice and Budgeting Service says around one-quarter of people it assists have problems paying their mortgage.

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