Martin Heydon (Kildare South, Fine Gael) | Oireachtas source

I thank the Minister for his response. Mortgage arrears is the biggest issue in my constituency of Kildare South and the most common problem raised at my clinics. The Minister is well aware of the great distress mortgage arrears have on individuals and families as they try to cope with changing financial circumstances. The Government has stated the banks must propose sustainable mortgage solutions for distressed borrowers. This week, I have been contacted by two constituents who received letters from their respective banks blankly stating that the options open to them were voluntary sale or voluntary surrender. We must force the banks to be more creative instead of availing of the easy option from their perspective. Will the Central Bank do more to ensure the banks propose creative solutions? The mortgage to rent scheme has the potential to be a highly effective tool. What steps will be taken to roll out the scheme more widely in order that people are able to resolve their financial difficulties and remain in their homes?

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