Housing affordability and supply challenges Northern Ireland borrowers

Housing affordability and supply continue to pose the greatest challenges to borrowers in Northern Ireland according to CML Northern Ireland’s incoming chairman Trevor James. 

Trevor James is area manager at Progressive Building Society and takes over the Chairmanship from Derek Wilson, head of mortgages at Ulster Bank. 

Addressing delegates at CML Northern Ireland’s annual lunch in Belfast this week, Trevor James said:  

“I look forward to continuing Derek Wilson’s good work in the coming two years. 

“Affordability continues to be the dominant housing issue in Northern Ireland, along with housing supply. The CML has worked closely with the Department of Social Development to provide housing associations greater access to private finance.   

“Whilst affordability remains the biggest issue, helping those people that are having difficulty with mortgage payments remain in their homes is perhaps of equal importance. The most important step for anyone who finds themselves in this position is to contact their lender as soon as possible; we will do what we can to assist you.”