Oireachtas Joint and Select Committees

Wednesday, 9 October 2024

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Engagement with the Central Bank of Ireland

1:30 pm

Photo of Rose Conway-WalshRose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

I know, but the problem is that everybody abdicates responsibility and nobody is accountable and responsible. We could talk about this all day and I am not going to get definitive answers on it.

I want to talk about the here and now. Many of the homeowners are obviously in their fifties, sixties and seventies and are going to the banks to bridge a gap because there is no 100% redress. A woman I met in Westport the other day needed €80,000. That would not fill the gap, so it is to be combined with her savings. The banks are basically saying the woman is too old to take out a mortgage and all that. Is there something the Central Bank can do in such circumstances to ensure – “instruct” is probably the wrong word – that banks co-operate and work with homeowners to bridge the gap until such time as we have 100% redress?

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