11:35 Thursday, 30 April 2020
They will now last 6 months.
Mortgage breaks for people financially impacted by Covid-19 have been extended, and will now last for six months.
The five main retail banks, along with other lenders, have confirmed the payment breaks will last longer than the current three month period.
The Banking and Payments Federation says over 65 thousand mortgage payment breaks have been granted in the last six weeks alone.
David Hall, from the Irish Mortgage Holders Organisation, welcomes today’s announcement – but says more support is needed.
”Most people who are in difficulty now are far more concerned about prospect of returning to work”, he said.
”And lets hope the banks are bit for generous in relation to forbearance that they give in relation to after Covid-19 as they’re offering at the moment”.