• subs-bellGet the latest news! Subscribe to the ifa bulletin

Ireland launches free financial advice service

The Irish government has established a free financial advice service for citizens struggling with mortgage repayments.

Ireland’s social protection minister, Joan Burton, who is a chartered accountant by profession, launched the service this week, telling the Irish Times that borrowers will now be able to consult with a panel of advisers on issues relating to their mortgage.

The panel will be made up of 2,000 available advice professionals, predominantly from the accounting profession, who will be paid a fee of 250 euros by mortgage lenders to provide advice to an individual borrower.

“This is invaluable support for those who are unsure about the proposals being put forward by their lender or who simply want the advice of an independent expert,” the minister said.