Oireachtas Joint and Select Committees
Wednesday, 5 July 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Defective Block Redress: Redress Focus Group for Banking and Insurance
Rose Conway-Walsh (Mayo, Sinn Fein)
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I wish to ask about the valuation of the houses. When a bank comes out to value a house that people have applied to demolish, it might value it at €300,000 even though it is worth nothing but if the people want to use their own valuer to value it, the bank will say that they must pay to have that done. Could the witnesses speak to the conflict between €0 and €300,000 and why they believe the banks are doing this? On the one hand, a bank is saying that a home is worthless and, on the other, it is saying that the home is worth €300,000.