Mortgage arrears and housing co-operative bill
Deputy Mattie McGrath sought Government support for a fair mortgage and housing co-operative Bill and raised cases of families under pressure from debt buyers. The Minister said existing insolvency and arrears measures were already in place, would await the Bill, and questioned how it would be funded.
While we all support Deputy Michael McGrath’s and other people’s Private Members’ Bills to deal with the sale of loans to the vulture funds, will the Taoiseach support the Bill submitted by Deputies McGuinness, MacSharry and myself last week, the National Housing Co-Operative and Fair Mortgage Bill, compiled by Master of the High Court, Edmund Honohan? We saw what happened in Balbriggan to the Smith family who were terrorised by people from abroad, ex-British soldiers. The Taoiseach asked me to put it in writing. I have two letters here, one for the Taoiseach and one for the Minister for Justice and Equality, Deputy Flanagan. I will give them to the usher to hand to them.
Ex-British soldiers beat this family. We have a short memory. In September 1920, Balbriggan was sacked and looted by the Black and Tans and two people were killed that night. The local barber, James Lawless, and John Gibson were both beaten to death by the Black and Tans. They are back again and this has happened under the Government's watch. It is a shame on all of us to allow this go on last Monday morning in Balbriggan. I have the information here and I want the Government to act on same. I also want the Government to support legislation to stop the vultures getting their grisly claws on any more loans.
Comment on this
We are aware of the responsibilities we have to our citizens. That is why we strengthened personal insolvency legislation over the past several years. That is why we set up the Abhaile organisation. We have put in place measures through, for example, the Central Bank, to ensure mortgage arrears are dealt with in the best way possible.
Comment on this
While I am always aware of the concerns people have on how this issue is dealt with, we must recognise that several years ago this country faced a major crisis in mortgage arrears and non-performing loans. In all those areas, progress has been made. A framework is in place which tries to strike the fairest balance.
Comment on this
I will wait to see the Bill to which Deputy Mattie McGrath referred. The basic questions the proponents of the Bill must ask is where is the money to fund it going to come from and how can we ensure it is not at the expense of many existing arrangements which are serving our citizens well.