Oireachtas Joint and Select Committees

Wednesday, 2 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process: Discussion

5:00 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

In the analysis of the 6,000 people that Phoenix Project Ireland has seen, Ms Sadlier gives a very shocking figure and estimates that 50% are likely to be evictions, be they so-called voluntary surrenders, which are not really voluntary; threatened repossessions; or repossessions in court. In our conversation beforehand, she said that the figure may be considerably higher. This is pretty alarming because it means that the crisis about which we have been talking for four or five years may be about to be unleashed. There seems to be quite a big distinction between people who are working - even people who are working are in great difficulty - and those who are not working. People who are not working are really banjaxed. Given that the mortgage to rent scheme is not happening at all, they are doubly banjaxed. No local authority housing is being provided either. What does Ms Sadlier have to say about that, particularly people who have lost their jobs and just cannot come up with a solution that the bank is willing to entertain?

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