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04/12/2008
Siptu Calls For Suspension On Mortgage Payments
One of Ireland's largest workers Unions is calling for the introduction of a temporary suspension on mortgage payments for people who have lost their jobs.
SIPTU says people who can no longer afford repayments should be offered a two-year moratorium to help them avoid losing their home.
The call echoes the recent move by the British government who have introduced a similar scheme in the UK, which will protect mortgage payers who have lost their jobs and are finding it difficult to keep up with payments.
The British scheme allows struggling mortgage holders to suspend their interest payments for up to two years following a means test.
If the Government is prepared to bail out the banks, it says, then it should also be prepared to support householders.
Meanwhile, SIPTU have also called on the Government to recapitalise Irish-owned banks, increase the top rate of income tax to 42% and increase tax credits to offset the effects of the 1% income levy on low-paid workers.
(DW)
SIPTU says people who can no longer afford repayments should be offered a two-year moratorium to help them avoid losing their home.
The call echoes the recent move by the British government who have introduced a similar scheme in the UK, which will protect mortgage payers who have lost their jobs and are finding it difficult to keep up with payments.
The British scheme allows struggling mortgage holders to suspend their interest payments for up to two years following a means test.
If the Government is prepared to bail out the banks, it says, then it should also be prepared to support householders.
Meanwhile, SIPTU have also called on the Government to recapitalise Irish-owned banks, increase the top rate of income tax to 42% and increase tax credits to offset the effects of the 1% income levy on low-paid workers.
(DW)
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