Mortgage holders on payment breaks facing interest charges

 

 

Serious concern has been raised over potential extra payments facing mortgage holders who have taken a payment break because of Covid-19.

By 28th May, close to 80,000 mortgage holders have applied for a payment break however, the move could mean higher debt and interest charges in the long run.

Sinn Féin spokesperson on Finance and Donegal Deputy Pearse Doherty has published a Bill which would stop banks from charging interest and that their credit rating remaining unaffected.

Deputy Doherty says the Government must take inspiration from their EU counterparts and ensure that these additional charges do not happen: