A new initiative has been launched today to help families struggling with mortgage arrears.
The 'Abhaile' service, an initiative of Citizens Information Offices and MABS (the Money Advice and Budgeting Service) aims to be a one-stop shop for people struggling with mortgage issues.
Customers approaching MABS who are insolvent and in mortgage arrears will be assessed based on their circumstances, and then sent to one of four professional options.
They will be sent either to a specialist in mortgage arrears, to a Personal Insolvency Practitioner, an account, or a solicitor, depending on the needs identified.
Eligible clients will also be given vouchers to cover the cost of legal or financial advice if needed to resolve their issues.
Although the number of households in arrears continues to fall slightly, there are still almost 30,000 mortgage holders who are over two years behind on repayments.
Over 1,300 vouchers for free legal or accountancy aid have been issued since the scheme was launched on a pilot basis in late July.
