Daft Property - Irish Property News

1,000 a month seek help to pay mortgage... MORE than 1,000 people a month are turning to the Government for help to pay their mortgages. But as many as half of them are being turned down some months. The dramatic rise in the numbers who cannot afford to meet their monthly mortgage repayments has underlined the scale of the crisis affecting a growing number of desperate homeowners. The mortgage interest relief supplement is designed to cover the interest portion of the home loan. Those seeking aid have to show they negotiated to reschedule the mortgage payments with their lender. They also have to be means tested. And both husband and wife must be out of work. The increase in applications comes at a time when mortgage interest rates are at record lows. Expected rises in the next year are likely to push substantially more people to the financial brink. Figures obtained by the Irish Independent reveal that the Government expects to have to spend €60m this year helping homeowners to pay th...