Arrangement for Cork widow to deal with €2.4m debt
The court heard that Mrs Phillips got into financial difficulties due to the high interest rates being charged on loans.
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The court heard that Mrs Phillips got into financial difficulties due to the high interest rates being charged on loans.
There has been a rise in the numbers of homeowners getting behind on their mortgage payments as relentless interest rate rises start to bite.
Mortgage experts are reporting a surge in the numbers of people coming to them who unable to meet their monthly payments.
The Government and the Central Bank have been warned that a new mortgage arrears crisis is looming after thousands of trapped borrowers were told their monthly payments are to increase.
Every mortgage provider should offer its customers fixed-rate loans, the Finance Minister has said.