Taoiseach promises there will be no surge in home repossessions as loophole closed
TAOISEACH Enda Kenny said there will not be a "rash of house repossessions" as a result of the Government’s promise to remove a legal loophole preventing banks taking properties.
The Government has promised the EU- IMF bailout team to end the loophole.
Mr Kenny said the coalition has “no intention of having a rash of house repossessions”.
Public Spending Minister Brendan Howlin said it was a “priority” of the Government to ensure “families maintain the family home”.
“It will remain the objective of the Government,” he said at the launch of the IPA Administration Yearbook and Diary for 2013.
Mr Howlin said the Personal Insolvency Bill will be in place to allow families to reschedule debt.
“I don’t expect, in truth, any mass repossessions of houses, certainly for family homes, next year,” he said.