Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

We are now approaching the mid-point of this Government's term in office. I assume that when the Minister took office he did not expect to be approaching the mid-point with the mortgage crisis getting worse. The latest figures show there is an increase in mortgage arrears. Under the Minister's stewardship, we have seen a doubling of the number of those in mortgage distress. There was also a doubling of the number in mortgage distress in the last 18 months of the Fianna Fáil-led Government.

The more we delve into the code of conduct on mortgage arrears, it becomes clear it was written for the banks at the behest of the troika by a compliant Central Bank and, ultimately, supervised by this Government. There are many in this Chamber who believe MABS is the organisation with the most experience of working with those in mortgage arrears. In its submission, MABS stated very clearly that no change should be made to the existing code in regard to permissible unsolicited contact between lender and borrower. The code has removed the three unsolicited calls and has left it at an unlimited number. It also facilitates home calls. The Minister must look at this in conjunction with the Dunne judgment, the personnel insolvency veto and the fact the Government is coming down on the banks all the time, which sends a very negative signal to those in mortgage distress.

The Minister mentioned the 25,000 people who have been offered sustainable solutions, which is welcome. However, we need the details. I know the details of a family who had arrears for the first time ever of €450. The bank scrutinised their position and said there was no other solution but to voluntarily surrender the house. There are serious questions to be asked. I hope that is a one-off case but I would say there are many more like it.

When will the next targets be issued, which are acceptance of sustainable agreements? They were supposed to be announced before July but we still have not got them. When will the Government announce the second round of targets, which is the agreed sustainable agreements and not just the offers from the banks?

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