Government must immediately publish and act swiftly on mortgage group report – McGrath

In response to a question from Fianna Fáil’s Finance Spokesperson Michael McGrath in the Dáil this morning, the Tánaiste Eamon Gilmore has confirmed that the Government has received the report on measures to assist mortgage holders from the interdepartmental working group chaired by Mr. Declan Keane.

Deputy McGrath stated, ‘The Government must immediately publish the report on measures to assist persons in difficulty with their mortgage and act swiftly to follow-up on its recommendations.

‘Since coming to office last March, the Government has given no additional assistance to people struggling to pay their mortgage and remain in the family home. The Government’s promise to increase mortgage interest relief for the persons who bought between 2004 and 2008 has been abandoned, and the ECB interest rate increases in April and July have been passed on by the banks to mortgage holders despite the Government’s commitment to force the banks to absorb the rate hikes.

‘Fianna Fáil has proposed a number of positive measures to assist people in difficulty with their mortgage including:

•                  A revamp of the mortgage interest supplement scheme to make it more accessible for persons in difficulty with their mortgage repayments

•                  A Family Home Bill to protect the family home from repossession

•                  A Regulation of Debt Management Advisors Bill to protect consumers availing of debt management and household budgeting services

•                  The establishment of a Debt Settlement and Mortgage Resolution Office as an independent statutory non-judicial debt settlement system.

 ‘Fianna Fáil will continue to develop policies that assist people with personal indebtedness and mortgage problems. I am calling on the Government to immediately publish the report of the group chaired by Declan Keane, and to take swift and decisive action to deal with the mortgage crisis which is getting worse with each passing day.’