Murnane O’Connor calls for mortgage holidays on Rebuilding Ireland home loans

Published on: 31 March 2020

Fianna Fáil TD for Carlow, Jennifer Murnane O’Connor has called for all homeowners under the Rebuilding Ireland mortgage scheme to be given the option of taking a mortgage holiday similar to those being offered by the main banking institutions during the COVID-19 crisis.

Deputy Murnane O’Connor has raised the matter directly with Ministers of State Damien English and John Paul Phelan and impressed upon them the need for people who bought their homes under the Government backed mortgage scheme to be able to avail of this break.

She explained, “The Rebuilding Ireland Home Loan scheme is administered by Local Authorities and it is specifically aimed at helping those on lower incomes get on the property ladder.

“In this time of crisis when vast swathes of the population have lost their jobs and income, I can’t understand why these people are not being offered mortgage holidays or breaks for three months.

“Mortgage holidays for a limited period of time stop people from falling into arrears. It means they don’t have to make hard choices between paying their mortgage and putting food on the table.

“This is a practical response to the crisis we find ourselves in. The banks are offering these mortgage breaks, why can’t our local authorities? she concluded.