A Sligo Leitrim TD says a lack of competition in the market, on top of inflation concerns, is leaving many mortgage holders in difficult circumstances.
The Central Bank and government have been warned of a mortgage ‘arrears crisis’.
It comes as the price of a new home in Ireland has increased by 28 thousand year-on-year.
The Irish Independent are reporting that borrowers whose loans are owned by vulture funds will face a 0.75 percentage point rise on repayments.
The central bank say 32,000 people have faced financial difficulty as a result.
Sligo Leitrim Deputy, Frank Feighan, says it’s a situation the government are monitoring closely.
Seperately, Deputy Feighan has welcomed the allocation of €1.2m towards the Boyle Library Project.
The Minister for Community and Rural Development Heather Humphreys confirmed the allocation.
The former Junior Minister described the allocation as ‘a further economic and urban regeneration boost’ for Boyle and the surrounding area.
