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Michael McGrath: banks must ‘stretch themselves’ to help homeowners with interest rate hikes

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The finance minister says ‘we are beginning to see signs' that people are under pressure with their mortgages

Ireland’s banks are going to have to “stretch themselves” if homeowners are to avoid falling into mortgage arrears as a result of successive interest rate increases, Michael McGrath has said.

The Minister for Finance said there were signs that the European Central Bank’s campaign of monetary tightening was starting to put some people under “real pressure” when it comes to repayments on their mortgages.

 

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Michael McGrath: banks must ‘stretch themselves’ to help homeowners with interest rate hikesThe finance minister says ‘we are beginning to see signs’ that people are under pressure with their mortgages
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