Bernard Durkan (Kildare North, Fine Gael) | Oireachtas source

I have a document that shows the deeds of my house. There used to be the Land Registry. Another agency has some kind of joint function at the moment. What is happening in the market or in repossession cases is that lenders are relying on old-fashioned legislation to be able to go into court and say they have tolerated this long enough, lost X amount of money and it is imperative that they repossess the property, failing to recognise that the poor unfortunate borrower was in the worst possible situation through ten years or more. They go into court on that basis. To be fair, not all judges agree with them. That is one of the weaknesses of this whole argument. Mr. Honohan hinted at it earlier. The transposition would have been better if it had been legislated in detail. Rather than having a case-by-case solution in every case, it would have to be subject to certain criteria laid down in mainstream legislation.