A.E.M.A.

Media Coverage

Call for ban on Split Mortgages.

R.T.E."
A group representing mortgage experts has called for a ban on split mortgages with accruing interest. The Association of Expert Mortgage Advisers says such mortgage products are really no different to interest only extension periods."

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Business World

"Split mortgages with accruing interest are really no different to interest only extension periods and should be banned, according to the Association of Expert Mortgage Advisers (AEMA) today. It wants them outlawed because, the AEMA say, there is a distinct possibility that they are misleading the homeowner into believing that they have secured a long-term viable solution to their financial troubles - when in fact they are simply racking up further debt for another day."

 

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FX Centre

"We welcome the recent comments from Professor Honohan in relation to unsustainable debt and particularly his comment that the time for passivity has passed, and while we believe in the concept of split mortgages, some of the versions being presented to homeowners are far from equitable. There are particular split mortgage terms being offered that, rather than relieve struggling mortgage holders from their financial predicament, could actually make their long-term position worse. We have reviewed the market&this is our view: there are good split mortgages, reasonable split mortgages and really bad split mortgages," said DJ O'Donovan of the AEMA"

 

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Latest Quotes...

The option of selling the property and discharging the debt is not an option for those who find themselves in difficulty..

Trevor Grant, A.E.M.A.

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