THE residents of Priory Hall have accepted a mortgage deal after a meeting this evening with Taoiseach Enda Kenny.
Stephanie Meehan, whose fiance Fiachra Daly took his own life over the Priority Hall saga, said after the meeting: "The nightmare is over for all the residents but it's not over for me."
The deal will see the former apartment owners have their debt written off, and a resolution framework to resolve the difficulties has been agreed.
Michael Dowling, who acted as an adviser to 55 of the residents in their dealings with the banks, said the meeting had been emotional but Ms Meehan left reassured by the Taoiseach's pledge.
"The Taoiseach expressed his wishes to her privately in terms of how he felt," Mr Dowling said.
Dr Martin McAleese will chair an oversight board which will look after the deal, and Mr Kenny said he believes “the agreed framework is a fair solution to this unique and exceptional situation which will give the residents a chance to get on with their lives”.
The plan, announced by Environment Minister Phil Hogan, will see around 90 owner-occupiers will have their mortgages written off.
They will get 100pc mortgages to buy new homes.
|The Taoiseach confirmed a full refurbishment of the north Dublin firetrap would be complete within two years.
"The residents of Priory Hall are victims of one of the worst excesses of the Celtic Tiger era, and this solution recognises the exceptional circumstances they find themselves in," Mr Kenny said.
Dublin City Council will oversee the refurbishment of the development, and buy-to-let property owners will be given the option of a moratorium on the mortgage while it takes place.
Their repayments will re-commence when refurbishment of Priory Hall has been completed.
Owner-occupiers will not be forced to return to the complex. They will be offered "debt forgiveness" on their mortgages and pre-approved for new loans.
Mr Kenny thanked the residents for the "constructive manner" in which they engaged with the resolution process, which involved talks between the banks, Dublin City Council and the Department for the Environment.
"I believe we now have a good outcome, and I am determined to ensure that it is implemented effectively and quickly," he added.