Galway Senator calls for transparency in bank deals with struggling mortgage holders
Galway Bay Fm newsroom - Galway Senator Ronán Mullen has called for transparency in the way banks make arrangements to write down mortgages for struggling homeowners.
It follows revelations this week that more deals have been put in place by AIB, however the criteria for such agreements has yet to be clarified.Recent figures compiled by Moodys show that one in every eight Galway mortgage holders are in default with arrears of three months or more.The Independent Senator has now called on the Government to put guidelines in place to ensure fairness as homeowners enter agreements with their banks