You are here: Home - News -

Boost for Northern Irish mortgage strugglers

by: Adam Williams
  • 02/06/2015
  • 0
The Northern Irish assembly has increased funding provision for the main mortgage debt service in the nation.


The Northern Irish assembly has increased funding provision for the main mortgage debt service in the nation.

Following a review, the Stormont-based assembly has announced plans to increase funding for mortgage advice by 50%.

Mortgage borrowers in Northern Ireland were hit hard by the financial crash with house prices still some way behind peak levels. However, the market has started to grow once more.

To assist those in debt, the Housing Rights Service will now see its budget for mortgage advice increased to £340,000.

Last year more than 1,600 households in Northern Ireland received support from the service.

The review into Northern Irish borrowers found high levels of both negative equity and houses at risk of repossession. It said the nation’s advice services needed to be better targeted and better funded.

Janet Hunter, director of the Housing Rights Service, said: “This means we will be able to help even more people facing difficulties with housing debt.”


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Help to Buy equity loan buyers
First-time buyer rates at three-year low

Mortgage rates for first-time buyers are at a three-year low, market data has suggested.