Enda Kenny (Mayo, Fine Gael)

As the Deputy is aware, the Government is considering a number of proposals in respect of mortgage holders as agreed in the programme for national recovery. They include increasing the mortgage interest relief to 30% for first-time buyers who bought between 2004 and 2008; directing any mortgage provider in receipt of State support to present Government with a plan on how it intends to cut its costs over and above existing plans in a manner that would be fair and sufficient to forego a 25 basis point increase in its variable mortgage rate; introducing a two year moratorium on repossessions of modest family homes in order that people can be assured that the roof will not be taken from over their heads where they are making an honest effort to meet their repayments; and fast tracking bankruptcy reform which is so completely outdated that it is necessary to do this as a matter of urgency and converting the Money Advice and Budgeting Service into a strengthened personal debt management agency. The Minister for Finance will bring forward a number of proposals shortly in that regard.

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