Search Results for 'Tadgh Malone'

It is estimated that approximately 2,200 mortgage holders in Mayo have switched to interest only mortgage payments to assist with affordability, but according to Caledonian Life these homeowners may now be leaving their families open to thousands of euro of legacy debt. The most recent report from the Financial Regulator would suggest that this switch has become a common cost saving strategy, as the public attempt to deal with affordability issues in the current recession. The leading life insurance company said it is believed that up to 50,000 struggling mortgage holders throughout the country have had to switch to interest-only repayment terms or otherwise restructured their mortgages since the recession began three years ago, but that most may not have adjusted their mortgage protection cover to reflect this change.