Finance Minister announces mortgage relief, other measures to help those hit by coronavirus pandemic

Mortgage payment relief has been announced this evening for homeowners affected by the coronavirus pandemic.

A so-called ‘three-month mortgage holiday’ is to be implemented following a meeting this afternoon between Finance Minister Paschal Donohoe and the CEOs of Ireland’s leading banks.

Other measures agreed include the rising of the maximum amount that can be spent on contactless cards to €50 so as to reduce cash payments.

The loan guarantee scheme for small firms has been expanded to a fund of €50m.

Legal actions for repossessions have been deferred for three months.

Sligo/Leitrim Fine Gael Deputy Frank Feighan says the moves announced this afternoon addresses some of the issues that constituents had been raising with him.