SINN Féin spokesperson on Finance and Donegal TD Pearse Doherty has called on the banking sector to address issues impacting homeowners affected by the defective block crisis without delay.
Teachta Doherty was speaking after raising the issues with the Minister for Finance in the Dáil.
Deputy Doherty said, “Homeowners affected by the defective block scandal have been failed by the redress scheme brought forward by the Government.
“Many homeowners now face significant funding shortfalls as they try to rebuild their homes and lives.
“They also face increased mortgage costs because of rising interest rates on homes that are crumbling and even demolished.
“There are also serious issues around the terms and conditions attached to their mortgage loans, with defects or demolition of their homes triggering enforcement action by the banks.
“I raised with the Minister the need for all of these issues to be addressed – issues that should have been addressed during the design of the redress scheme.
“I have met with the banking sector and Central Bank stressing the need for credible proposals to address these issues and assist homeowners who have found themselves in this position through no fault of their own.
“It is unacceptable that homeowners have been forced to administer the remediation of their own homes – a task that should be overseen by the Housing Authority from start to finish.”
Receive quality journalism wherever you are, on any device. Keep up to date from the comfort of your own home with a digital subscription.
Any time | Any place | Anywhere
SUBSCRIBE TO CURRENT EDITION TODAY
and get access to our archive editions dating back to 2007(CLICK ON THE TITLE BELOW TO SUBSCRIBE)