Low repayments on mortgages across the property industry have shown the adverse effect of the pandemic on businesses. The fall in economic activity has translated into a fall in consumer disposable income and financial incapacity to honor financial obligations. To cushion mortgagors against this loss of income, Irish banks have granted 45,000 loan repayment breaks…
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The country’s five retail banks may extend loan repayment breaks to help homeowners cope with the impact of the coronavirus to six months from the three months currently in place, the head of their representative body has said. The banks agreed the measure in the middle of last month and had granted or were close…