Time for banks to contribute towards remediation of Mica homes – Deputy Doherty

SINN Féin spokesperson on Finance and Donegal TD Pearse Doherty has called on banks to contribute towards the remediation of homes impacted by defective blocks, and put in place a coordinated framework to provide forbearance for affected mortgage-holders.

Yesterday evening, the Donegal TD raised the issue with the Minister for Finance in the Dáil, calling on him to meet the Banking and Insurance Redress Focus Group and convene a forum with the banking sector.

He said he has recently met with both the Central Bank and the banking industry – calling on them to put in place a coordinated approach to provide to these homeowners, including forbearance measures.


Teachta Doherty said: “Victims of the defective block scandal were let down by the redress scheme brought forward by the Government and have been left with significant funding shortfalls in rebuilding their homes and their lives.

“It is in the financial interest of banks and lenders that these homes are fully remediated, and their asset values restored.

“We have homeowners, with crumbling, demolished or soon to be demolished homes – making full mortgage repayments on unsafe or demolished properties.

“And facing significant funding shortfalls to rebuild their homes and lives,” said Deputy Doherty.

“It is time for the banking sector to put in place a framework for the treatment of these mortgages – including sustainable forbearance measures and finance options to bridge the

shortfall these homeowners are facing to rebuild their homes.

“Yesterday evening I called on the Finance Minister to meet with the Banking and Insurance Redress Focus Group, based in Donegal, and to convene a forum with the banking industry


to address this issue in the interests of affected homeowners.”

“I welcome the fact that the Finance Committee have invited the Banking and Insurance Redress Focus Group to come before it on my recommendation and give voice to the situation on the ground.”

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