Noel Ahern (Dublin North West, Fianna Fail)

Regarding the other issue raised, until last year all social and affordable housing was financed by the State system. Two financial institutions, Bank of Ireland and EBS, now allow loans for affordable housing on new houses only. We are discussing this and seeking their agreement for re-financing. To date the institutions have not agreed, so the only way of redeeming the mortgage is the manner described by the Deputy. When the banks and financial institutions agree to re-financing the case the Deputy raised should not occur.

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