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Mayo TD, Rose Conway-Walsh, has criticized the government’s lack of action regarding the increasing mortgage costs that are putting a strain on people’s finances, especially during a cost-of-living crisis. According to Conway-Walsh, over 43,000 variable mortgage borrowers with loans held by non-banks and vulture funds are facing significant hikes in their mortgage repayments, with some interest rates rising as high as 8%. Many families are struggling to pay their monthly mortgage repayments, with some borrowers seeing an increase of 30%. Conway-Walsh suggests that the government introduces targeted and time-limited mortgage relief to help those most in need. It’s time for the government to protect its citizens and take action.
