Bank of Ireland received 15K applications for mortgage breaks in March

In a statement on Friday, the Chief Executive of the Bank of Ireland said, he has received 15,000 applications for payment breaks from mortgage customers in March and a further 5,000 businesses are seeking breaks from such payments as a result of Wuhan coronavirus.

“To put that into perspective, normally, before Covid, we would typically get just two or three applications for a break each day. We have seen on some peak days that demand at 2,000,” said Francesca McDonagh to national broadcaster RTE.

He went on to add, by the end of last Saturday, “lenders were processing more than 28,000 mortgage breaks for customers after agreeing to loan repayment breaks of up to three months for those affected”.

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