Mr. Brendan Burgess:

It is important to understand that Irish banks always have been highly reluctant to repossess houses. It always has been a last resort for them. They issue a letter and this sometimes gets the person to engage. The impression is given that all the banks simply wish to repossess as many houses as possible. Some of them are being forced to so do by the targets but one must also remember that many people are more than two years in arrears on their mortgages. I disagree with the other speakers here and probably with the members in respect of a substantial element. Most people who have a mortgage try to pay it, but a small percentage of the overall total are not actually particularly interested in paying their mortgages or they will pay as little as possible or prefer other unsecured debts. Consequently, a significant proportion of people who are in deep arrears do not need to be in deep arrears. Members should not get me wrong, as most people are in deep arrears out of no choice of their own. However, some of them are in that position deliberately through not managing their affairs properly, through preferring to pay off unsecured creditors and through simply being financially irresponsible. As for the way in which the banks can get them to engage, there has been an effective ban on repossessions for the last couple of years and consequently, that backlog will now come into the system. Some of these people are engaging again but unfortunately, it may be too late for them.