The Central Bank and government have been warned of a mortgage ‘arrears crisis’.
It comes as the price of a new home in Ireland has increased by €28,000 year-on-year.
The Irish Independent reports borrowers whose loans are owned by vulture funds and serviced by pepper, will face a 0.75 percentage point rise on repayments.
According to the central bank, 32,000 people have faced financial difficulty as a result.
The latest increase means some borrowers will now have to pay between 8.5 and 10%
The paper also reports the price of a home is up €28,000 in quarter two of the year compared to the same period last year.
According to Geowax, the median price for a home now is €318,000.
