A Derry city councillor has urged mortgage companies not to abandon people looking to buy a home, to market forces.
Tony Hassan says more and more people are now in mortgage crisis and mortgage debt in the north now stands at £9million, a rise of 1800% since 2008.
“The companies that gave out huge mortgages during the so called boom years must not just walk away and tell homeowners that if they cannot keep up payments their property will be repossessed. It is also vitally important that those people who find themselves in mortgage stress seek help immediately so that all options are considered and discussed in order to maximise their chances of remaining in their homes,” he said. Mr Hassan says a homeless crisis is wating to happen unless solutions are found.