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New measures set to be introduced to tackle long term mortgage arrears

New measures to specifically target people in long-term mortgage arrears are to be introduced in the next few weeks. 

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That's according to Junior Finance Minister Simon Harris, who says the details of the plans have yet to be finalised.

It comes after both Bank Of Ireland and Ulster Bank said they had no plans to pass on low interest rates to their mortgage customers.

Finance Minister Michael Noonan will meet with the four main mortgage lenders next month to discuss the issue.

But Minister Harris is encouraging a mass campaign of switching if the option is available to customers

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