'I felt it was only right' - Humphreys extends mortgage arrears scheme by a year

A scheme designed to support families in mortgage arrears is being extended until the end of next year. 

The Minister for Social Protection and Minister for Justice, Heather Humphreys, today (November 30) announced the extension of the Abhaile Scheme, which has helped over 19,300 households at risk of losing their home since its inception in 2016. 

Speaking about the news, Minister Humphreys said, "I know from my days working in the credit union, the stress placed on families who find themselves struggling to meet their mortgage repayments. The prospect of losing your home can be a deeply traumatic experience for the entire household. 

"Given the current cost of living pressures people are under, I felt it was only right to keep the Abhaile Scheme in place until at least the end of 2023." 

According to the minister, Abhaile is "often the first point of contact for distressed mortgage holders". 

She said, "I know that the decision to extend Abhaile until the end of 2023 will enable it to reach those who have not yet engaged and those who may be at risk." 

The Abhaile scheme - funded and managed jointly by the Department of Social Protection and the Department of Justice - provides assistance to people who are insolvent and in mortgage arrears on their homes to access independent expert financial and legal advice. 

Home mortgage arrears have reportedly fallen sharply and continue to fall, but the cohort in long term arrears remains significant at just over 21,600 mortgage accounts at the end of 2021. 

Funding by the two Departments has already been included in their budget estimates for 2023 and amounts to approximately €8.4m, which includes €2.5m apportioned to the Dedicated Mortgage Arrears MABS service. 

Minister Humphreys concluded, "All Abhaile services are confidential and are provided without charge to the borrower. I would encourage anybody who is in difficulty with mortgage arrears to take the first step and call the Money Advice and Budgeting Service. 

"The vital service provided by MABS Dedicated Mortgage Arrears advisors has also been extended until the end of 2023 by Government today." 

A strategic review of Abhaile is currently being carried out by independent consultants and is expected to be completed in the coming months.