Terence Flanagan (Dublin North East, Fine Gael)

In July 2011, the High Court issued a judgment to the effect that banks could not repossess any more properties. Obviously, it is not good for borrowers when the interest on their borrowings is continuing to increase, and the banks suffer when it comes to funding costs because the mortgages are not secured. I know the issue relates to the Department of Justice and Equality. If the Minister has some information on it, perhaps he can give it in his response. The Keane report does not relate to buy-to-let mortgages. Will there be a second Keane report to deal with that? We are four years down the road. This country has been in recession for some time. The real economy is suffering. Decisions on arrears are made by bankers. I hope this report offers some hope to struggling home owners. It is imperative that we see action from the banks in relation to sorting out the situations of home owners who find themselves in arrears.

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