Oireachtas Joint and Select Committees

Tuesday, 8 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process: (Resumed) Ulster Bank

3:40 pm

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

I want to ask about buy-to-let arrangements and tenants in cases of receivership. While the set of problems concerning those who took out mortgages to buy their own homes has been highlighted, the plight of tenants who pay rent and have a reasonable expectation of security of tenure has not been highlighted to any great extent over the past year or two. They find that because their landlord has gone bust, receivers move in and tell them they must leave, in many cases at very short notice. This presents a big problem, particularly for families with children. In the current market, it is very difficult in many cases to obtain alternative accommodation. What is the attitude of the delegation to this? The delegates said they will let the leases run. Leases will have expired in many cases. Typically in the private rental sector, one gets a one-year lease in the first year and no lease at all after that. When the delegates say they let leases expire, does this mean, in reality, that people get a month’s or two months' notice in many cases when the banks' receivers move in?

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