Menu
16/03/2012
Committee Established To Speed Up Action On Mortgage Problems
A committee of senior ministers has been established in the hope of speeding up the governments handling of the mortgage crises.
Chaired by Taoiseach Enda Kenny and Tánaiste Eamon Gilmore, the cabinet sub-comittee held its first meeting on Wednesday, at which ministers were urged to prioritise the mortgage debt issue.
Describing the problem as an “Armageddon” for some families Gilmore said he was “disappointed” at the slower-then-expected pace of dealing with the issue.
Claiming that 70,000 households were more than 90 days in arrears he told the Irish Times that he and Enda Kenny were “absolutely at one” in their frustration at the rate of progress.
“The loss of the home is the Armageddon for families,” he said. “It’s not just the issue of housing and accommodation. When children have to change school [for example], there is the embarrassment and shame that goes with it.”
Mr Gilmore said the sub-committee would co-ordinate the work of five government departments and put a framework in place to help families facing major arrears difficulties: “People in distress need to talk to their banks and their financial institutions. What this will do is strengthen their hand so they are not alone and there is a framework in place. We want banks to co-operate with mortgage holders.”
(H)
Chaired by Taoiseach Enda Kenny and Tánaiste Eamon Gilmore, the cabinet sub-comittee held its first meeting on Wednesday, at which ministers were urged to prioritise the mortgage debt issue.
Describing the problem as an “Armageddon” for some families Gilmore said he was “disappointed” at the slower-then-expected pace of dealing with the issue.
Claiming that 70,000 households were more than 90 days in arrears he told the Irish Times that he and Enda Kenny were “absolutely at one” in their frustration at the rate of progress.
“The loss of the home is the Armageddon for families,” he said. “It’s not just the issue of housing and accommodation. When children have to change school [for example], there is the embarrassment and shame that goes with it.”
Mr Gilmore said the sub-committee would co-ordinate the work of five government departments and put a framework in place to help families facing major arrears difficulties: “People in distress need to talk to their banks and their financial institutions. What this will do is strengthen their hand so they are not alone and there is a framework in place. We want banks to co-operate with mortgage holders.”
(H)
Related Irish News Stories
Click here for the latest headlines.
18 November 2015
Banks Accused Of Not Being Serious About Mortgage Switching
Fianna Fáil has accused Ireland's banks of not being serious about offering mortgage switches. The party's finance spokesperson, Michael McGrath, highlighted new figures from the Central Bank that reveal just 712 customers have been able to switch from one mortgage provider to another.
Banks Accused Of Not Being Serious About Mortgage Switching
Fianna Fáil has accused Ireland's banks of not being serious about offering mortgage switches. The party's finance spokesperson, Michael McGrath, highlighted new figures from the Central Bank that reveal just 712 customers have been able to switch from one mortgage provider to another.
14 October 2014
Irish Ambassdor To Attend London's Cenotaph Remembrance Ceremony
Ireland's Ambassador to Great Britain, Dan Mulhall, has accepted an invitation to lay a wreath at London's Cenotaph Remembrance Sunday ceremony in November. Taoiseach Enda Kenny laid wreaths in Enniskillen in November 2012 and 2013, while likewise Tánaiste at the time, Eamon Gilmore, did likewise for the past two years at the Cenotaph in Belfast.
Irish Ambassdor To Attend London's Cenotaph Remembrance Ceremony
Ireland's Ambassador to Great Britain, Dan Mulhall, has accepted an invitation to lay a wreath at London's Cenotaph Remembrance Sunday ceremony in November. Taoiseach Enda Kenny laid wreaths in Enniskillen in November 2012 and 2013, while likewise Tánaiste at the time, Eamon Gilmore, did likewise for the past two years at the Cenotaph in Belfast.
19 March 2014
Consistency Needed In Bank Handling Of Mortgage Arrears
Greater consistency is needed in how different banks handle mortgage arrears, Fianna Fáil has said.
Consistency Needed In Bank Handling Of Mortgage Arrears
Greater consistency is needed in how different banks handle mortgage arrears, Fianna Fáil has said.
25 June 2015
Govt Accused Of Failing Families Experiencing Mortgage Difficulties
The government has been accused of failing families experiencing difficulties with mortgage repayments, by Fianna Fáil's Seán Ó Fearghaíl. Deputy Ó Fearghaíl has raised the issue in the Dáil with Taoiseach Enda Kenny during Leaders Questions.
Govt Accused Of Failing Families Experiencing Mortgage Difficulties
The government has been accused of failing families experiencing difficulties with mortgage repayments, by Fianna Fáil's Seán Ó Fearghaíl. Deputy Ó Fearghaíl has raised the issue in the Dáil with Taoiseach Enda Kenny during Leaders Questions.
30 August 2011
Banks Have Funds For 'Debt Forgiveness'
Irish banks have enough money for so-called debt forgiveness. The Finance Minister, Michael Noonan, has insisted that the capital is in the banks to allow the write off of some residential mortgage loans, following the recapitalisation of the nationalised banks in July of this year.
Banks Have Funds For 'Debt Forgiveness'
Irish banks have enough money for so-called debt forgiveness. The Finance Minister, Michael Noonan, has insisted that the capital is in the banks to allow the write off of some residential mortgage loans, following the recapitalisation of the nationalised banks in July of this year.
-
Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
