Thursday 19 October 2017

Adams: Government needs to stand up for struggling mortgage holders

The government must start standing up for struggling mortgage holders, said Sinn Fein president Gerry Adams.

Speaking in Dublin today Deputy Adams accused the government of siding with the banks in the mortgage crisis.

“Figures released yesterday show that almost one in four mortgages are in distress.  Behind these figures are people and families who worked hard during the boom to save for their homes.

“Their taxes helped to bail out the banks and many of them lost their jobs as a result of the financial crisis.  They now need the state’s help.

“Unfortunately however the government has sided with the banks.

“The Land and Conveyancing Bill, currently making its way through the Oireachtas, will make it easier for the banks to repossess homes and the Central Bank will next week introduce changes to the Code of Conduct on Mortgage Arrears which will weaken the hands of struggling homeowners in dealing with the banks.

“The government must start standing up for the citizens involved in this crisis, the struggling mortgage holders who are at risk of losing their homes.

“We need to see sustainable solutions including debt write downs where necessary with an independent mortgage resolution board to impose these solutions on the banks when needed.

“Ultimately the government needs to stop siding with the banks and the Troika on this issue and start supporting struggling mortgage holders.”

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