Banks not releasing mortgage monies to people receiving Covid subsidy

SOME banks are refusing to release mortgage monies to people who have been receiving Covid employment subsidies, a meeting of Mayo County Council's housing committee was told this week.

Councillor Michael Kilcoyne said he was aware of people whose employers were getting the Covid subsidy scheme and having been approved for mortgages, the banks were now refusing to release the money as part of their wages is from Covid funding.

Councillor Christy Hyland said the banks had not played ball during the crisis.

He also wondered how the pandemic will affect the council's housing list, saying they would be seeing more people coming to the local authority due to the downturn as a result of Covid, with people who lose their jobs unable to pay a mortgage.