Banks 'set to propose schemes to tackle mortgage crisis'25/05/2012 - 08:32:56
Irish banks will reportedly introduce a number of schemes aimed at dealing with the mortgage crisis over the next few weeks.
The Irish Examiner said that it follows a request from the Central Bank for ideas on how to ease the pressure on struggling homeowners.
The Central Bank has already received a number of proposals from the banks to deal with the mortgage arrears crisis.
They include negative-equity mortgages and mortgage to rent schemes, which will tackle unsustainable long-term mortgages.
The pilot phase will be rolled out next month, to be completed by September, and may be rolled out on a wider scale, depending on success levels.
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