Aideen Hayden (Labour) | Oireachtas source

I will take the opportunity to ask a few questions.

We are all happy to see a decrease in the numbers in mortgage arrears. However, as Professor Lane said in his opening statement, the number of mortgages heading towards the courts has increased quite substantially. He did not raise the issue of buy-to-let mortgages and the number of those in arrears for more than 720 days. The statistics released on 11 December 2015 indicated that there were over 6,000 buy-to-let properties subject to receivership. I am sure the professor is aware that there is significant dissatisfaction with the actions of receivers, particularly their behaviour towards tenants in properties subject to receivership.

Professor Lane mentioned the role of the Central Bank in consumer protection. Does he see any role for the bank in examining the possibility of introducing a code of conduct in the context of the actions of receivers in the case of buy-to-let properties, in particular their actions against tenants? I know from personal experience that some tenants have found themselves outside the door with their belongings in black sacks. There is definitely an issue with the actions of some receivers, although others have not behaved in that way. Is there a role for the Central Bank in regulating the actions of receivers?