State-run split mortgages urged by home loan body

April 8, 2015

The Irish Mortgage Holders’ Organisation wants the Government to introduce a State-sponsored split mortgage that would allow local authorities to supplement the payments made by home owners in loan arrears and in danger of having their properties repossessed.

It also wants a mortgage-to-lease scheme to replace the mortgage-to-rent one that has failed to gain traction and it has proposed changes to the insolvency regime.


These reforms were proposed by the IMHO to Government in a six-page submission dated April 3rd, which has been seen by The Irish Times. They are designed to prevent up to 25,000 repossessions by Irish banks in coming years.

On the State-sponsored split mortgage, the IMHO cited the case of a couple with two children, living in Kildare, with a €200,000 mortgage on a property now valued at €120,000. Their mortgage payments are €1,000 a month.

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