Abhaile scheme will be extended in light of continued cost-of-living pressures and rising mortgage interest rates
A scheme that helps mortgage holders in arrears resolve their debt problems is to be extended for a further four years.
The Abhaile scheme, which provides free financial and legal advice to borrowers struggling with their mortgages, has assisted more than 26,400 households since its establishment in 2016. A review of the scheme has been completed and found there was a continued need for the service to help borrowers in long-term arrears, as well as those who may enter arrears due to increasing mortgage interest rates and cost-of-living pressures.
There are some 48,760 mortgage accounts in arrears in the State, with 22,015 in arrears of more than one year and some 18,418 for more than two years. The scheme finds and puts into place solutions to those arrears to help the person remain in their home.
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