Mr. David Hall:

There are three levels of intervention. First, iCare and other approved housing bodies are doing the enhanced mortgage-to-rent scheme. Second, the bureaucracy needs to be removed because this is a crisis and an emergency for the families involved. Third, there needs to be a NAMA-type organisation for the mortgage holders.

The key part we have missed here is that the data we presented today of 600 cases show clearly the complexity of these individual cases, which Senator O'Donnell mentioned earlier. These are human beings. Humans are not perfect; they come with problems and difficulties. The key part of the problem is that the people involved do not have the ability to pay. Two of the examples I gave in the papers today show that, from the optics, it may appear as if someone can pay €600 but if we look at the next line we will see the person's age, and on the next line we will see there are additional complicating factors. These cases should be shelved inside a NAMA-type organisation that can keep these people in their homes on a debt-for-equity basis where they can, pro rata,own a percentage of the property on which they can make repayments or they should be housed in suitable, ordinary family homes. I am not talking about properties like Gorse Hill or €1 million homes that some seem to want to protect. Debt-for-equity solutions should be embedded in the insolvency legislation and the banks should get a kick in the backside to ensure they engage fully, honestly and openly with the insolvency regime. There is no other show in town because otherwise these people will lose their homes.