Mica Action Donegal is seeking Government intervention with banks to support Mica affected homeowners meet the required 10% contribution.
Lenders have been lobbied to offer 0% interest loans for fixing homes, restructure existing mortgages to support zero increase in monthly repayments and in the case of homeowners who don’t have sufficient money to contribute towards fixing their home, a request to the bank to make up any shortfall in the 10% contribution.
The group’s Chairperson, Joe Morgan says, while major lenders have been willing to participate, they say Central Bank regulation is a stumbling block towards flexibility in the options they can offer.
Mr Morgan has however, welcomed a commitment given yesterday by Minister Joe McHugh that he will raise the issue with the Finance Minister:
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