Defective blocks mortgageability
Thomas Pringle said homeowners under the defective blocks scheme are trapped because banks and engineers disagree on mortgageability for remediated homes. Coveney said the Minister was engaging with banks to secure fair treatment and would return with a fuller answer.
People whose homes are affected by defective blocks are stuck between the banks, which say mortgageability over remediated properties is dependent on certification by engineers, valuers, surveyors and others, and engineers who have raised issues over certifying based on the remediation options that are outlined in the Government scheme. This leaves property owners in an impossible situation. These concerns must be addressed. The Government needs to commit to a cross-sectoral response to the issue of mortgageability of homes under the scheme.
I was very disappointed to hear that the meeting of the defective concrete block subcommittee that was due to take place tomorrow has been cancelled. The Government needs to start standing up for homeowners. I met with a Donegal woman in her 70s recently who is looking at at least €80,000 in excess of expenses on top of the redress scheme. She does not know how she is going to come up with that money. This is a so-called 100% redress scheme.
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People whose homes are affected by defective blocks have already waited years too long for the response they need and deserve.
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What steps is the Government going to take to address the mortgageability of remediated homes?
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I am not sure why that meeting tomorrow has been postponed. I will try to get that information for the Deputy. My understanding is the Minister is engaging with banks, in particular, to try to ensure homeowners are getting fair treatment. I will get the Minister to come back with a more specific answer for the Deputy because I do not want to give him a bland answer.