Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

This is a matter of genuine concern. The idea this House, through a financial statement by the Minister for Finance, would provide for additional mortgage interest relief for a group of people who bought at the height of the boom but that it would not be passed on to them because of some IT difficulties is an issue of concern. I spoke to the Minister for Finance about the matter and he will consider the provision of sanctions for lenders where they cannot pass on a decision that would be contained in his financial statement or in the Finance Act. He will consider what sanctions he can bring to bear as a result of this matter.

There are two aspects to this, as the Deputy rightly said. There were those who had not paid by May 2012 but I assume the full amount would be given to the mortgage holders affected, even though they would get it much later in the year. If that is not the case, it is very serious indeed. I also understand Revenue is continuing to work with Ulster Bank, which has had well-publicised IT problems this year. The remaining 20% of outstanding cases are with Ulster Bank, which is a significant mortgage lender. According to the information from Revenue, the first three months of capture next year will be paid by April next year, but that is not good enough. We have made our views known to Revenue, which is engaging with the bank concerned. As I said to the Deputy, if sanctions are applicable, and if further action can be taken by the Minister for Finance, who is concerned about this matter, we will consider that in due course.

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