Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

Since the Keane report, out of 144,000 people in mortgage arrears, we have only had 144 split mortgages. That is an indication of the lack of engagement to date by the banks with people on the basis of meaningful, sustainable ideas that were proposed two and a half years ago.

Yet the Minister refers to adjusting to new realities. New Beginning asserts that there are up to 50 new repossession cases before the courts every month. This is the new reality to which many of those in mortgage arrears are now adjusting.

Bank activity has focused increasingly on such people in the past eight weeks. This is what we are hearing on the ground and from the groups at the coalface. There is an absence of independent oversight of the banks.

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