Dan Neville (Limerick, Fine Gael) | Oireachtas source

I welcome the opportunity to contribute to this debate. I wish to deal with an issue associated with mortgage distress which is the personal and family difficulties experienced by people. One the factors causing psychological distress is the fear of losing one's home or the actual loss of a home. The attachment to owning a home is ingrained in Irish people; it is in our genes. I refer to the great quote from Parnell, "Keep a firm grip on your homestead". The fear of a loss of the home has a significant impact on psychological well-being. The loss of a home is often accompanied by the loss of employment with attendant severe psychological effects. The three most common questions asked on meeting a person are, "Who are you?", "Where are you from?" and "What do you do?" Loss of a home causes loss of self-esteem and self-worth especially in cases where a person is also unemployed. It especially affects vulnerable people who have lost their job and are in danger of losing their home because of difficulties with paying the mortgage. This creates stress in the home and has an effect on relationships, leading to their breakdown. It can also lead to a stressed person abusing alcohol and drugs in an attempt to relieve the distress. In many cases the compounding factors can lead to serious depression and other mental health issues. There has been an increase of 24% in suicide rates as a result of the recession and other factors.

The banks should recognise these outcomes in their discussions with very vulnerable people. Some banks have trained and informed their staff on how to deal with customers and to be aware of the psychological difficulties they are experiencing. However, more investment is needed in training banking personnel to understand the psychological distress being experienced by those with mortgage difficulties who are in danger of losing their homes and the consequences that might ensue as a result of their situation.

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