28 March 2020. DUBLIN (Reuters) – Ireland’s banks are processing more than 28,000 mortgage breaks for customers whose incomes have been impacted by the coronavirus outbreak, the head of the lenders’ representative body said on Saturday.
“From late last night, 28,000 breaks had been given or were in the process of being given. That’s an extraordinarily large number,” Banking & Payments Federation Ireland CEO Brian Hayes told national broadcaster RTE.
Ireland’s five retail banks agreed last week to implement a loan repayment break of up to three months for those affected.
Hayes said the 7,000 average inquiries a day since then had fallen slightly after the government announced this week that it would pay 70% of income for impacted workers.
