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Seanad
‹ Order of Business

Central Bank mortgage rules

Summary

Ivana Bacik seeks a debate on the Central Bank’s proposed mortgage rules, especially the 20% deposit requirement affecting first-time buyers.

Other colleagues yesterday raised the issue of the Central Bank's proposed new rules for mortgage applications. As many Members said yesterday, they have been widely criticised, particularly the requirement for a 20% deposit. I ask the Leader to arrange a debate in the near future on this issue.

I note that criticism has been made of the proposal by, among others, Mr. Jack O'Connor of SIPTU, and certainly they are seen as far too onerous, particularly for first-time buyers. In that context, I very much welcome reports today that the Central Bank is considering inclusion in its proposals of some sort of different rule for first-time buyers. It would be worth teasing out in a debate in this House the idea that perhaps some sort of higher-level requirement for deposits should be in place, for example, for those seeking to buy for investment purposes or those who are not first-time buyers. Certainly, it seems there are some more nuanced proposals coming forward and I ask the Leader for a debate about mortgage criteria and the proposed Central Bank rules.

I also ask the Leader for a debate on the national dementia strategy. I asked for this previously and the Alzheimer Society of Ireland has been seeking a debate. This is an issue of considerable significance for so many in Ireland, both for carers and for those with Alzheimer's. We might ask the Minister concerned - it is the Minister of State, Deputy Kathleen Lynch - to come to the House for a specific debate on the strategy.

I ask again for a debate on equality in third level education. Last week I had the pleasure of meeting Dr. Micheline Sheehy-Skeffington, who won her case against NUI Galway on equality issues for women lecturers there. A number of us have called for a debate in this House on the issues raised by the case and on the issue of gender equality at third level generally. I note the matter is back in The Irish Times today, with reports that 25 student societies in NUI Galway are backing a campaign for equality for women lecturers. NUI Galway is also looking for an equality review of the sector generally and I would like us to have a debate in this House in advance of it.

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