Oireachtas Joint and Select Committees
Thursday, 24 November 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector in Ireland: Allied Irish Banks
9:30 am
John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source
I would like to follow up on Deputy Michael McGrath's questions by asking about vulture funds and the bank putting together a package of properties to go to the market. When the bank reaches the point at which it is looking at court proceedings in respect of homes owned by families, obviously all other options have been worked through by the bank with those customers. Has it seen any schemes in any other jurisdiction or country that the Government could adopt here? Could the Government intervene through a voluntary housing agency to take up these homes and prevent families from becoming homeless if court proceedings are successful? When the banks have exhausted their efforts, some sort of Government scheme could assist families that are otherwise going to become homeless. The mortgage-to-rent scheme is not working. How many mortgage-to-rent houses or applications have been processed by the bank?
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