Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

In response to the questions about dealing with the level of arrears and potential repossessions, for 15 consecutive quarters the level of mortgage arrears has come down. We want to do all we reasonably can to ensure people stay in their homes or properties. The number of repossessions was unchanged in 2014, 2015 and 2016. Lest there be any risk my comments will be misinterpreted by others, I want to ensure we will do all we reasonably can to help people to stay in their homes, but there are limits. In 2016, the last full year for which I have figures, there were 847 repossessions. In the same period there were 1,201 voluntary surrenders.

The question of establishing a particular court to deal with this matter is still under consideration by the Government. We have the Abhaile mortgage arrears resolution service and I am very pleased to see the advertising and prominence it is being given across the State. It is trying to make funding available to people in debt and distress who are not approaching the banks to deal with their difficulties. The State is going to fund and make a significant contribution to helping them to access services and, through the Money Advice and Budgeting Service, MABS, procure those services for them. It is a very new service and it is reasonable to wait a little time to see how it is going to go. The debt thresholds are a matter for the Department of Justice and Equality in consultation with me. The Insolvency Service of Ireland was put in place in 2015 and is offering three forms of debt relief.