Sandra McLellan (Cork East, Sinn Fein) | Oireachtas source

The phrases "mortgage arrears" and "mortgage distress" have been heard often during the debate on the motion. While these terms may be technically correct, I am not sure they do the issue justice and paint the fullest picture. When we talk of mortgage arrears, we should remember the people we are discussing and the suffering and hardship they are undergoing. My constituency office has dealt with numerous people who are at their wits' end trying to juggle bills, put petrol in their cars, provide food for their children and make mortgage payments they simply cannot afford. Many work countless hours - any hours that are available - to keep their heads above water and stretch their money as far as they can. Many more are searching desperately for any work to help them to keep paying bills and make repayments. Many people are trying their best to do without some of the basics, much less the luxuries that keep one going from week to week.

I cannot imagine the worry, concerns and fears that go through people's heads as they wonder if they can hold on to the family home they dreamed of and worked so hard to acquire on the property ladder. Think of the mental strain of constantly looking at bills coming in and wages going out while ensuring the balance is manageable, struggling, perhaps in vain, to meet mortgage payments on homes which are often not worth the price they paid. Many families in my constituency are struggling in Rathcormac, Midleton, Carrigtwohill, Cobh and Youghal. These are people who could not be further from those at the heart of the crash. They are a million miles from the David Drumms and Seanie FitzPatricks of this world. They did not cause the economic crisis. They are ordinary, decent people who work and struggle every day and keep the country running. They are the people who will help to lift us out of recession if they are given half a chance. To do that, they need help. They need space to breathe and they need a chance to make a new start. They deserve better than they are getting from the Government.

The Government has now been in office for over two years and failed so far to deal with this issue. There are 180,000 households in mortgage distress, representing one in four mortgage holders. The numbers in long-term arrears of more than 180 days and 720 days, respectively, continue to increase. While I recognise that they inherited a shambles from Fianna Fáil, which created the boom, the Government parties were willing cheerleaders. The Government has had adequate time to make an impact on the issue. Instead, it has patiently and meekly waited on some act of benevolence from the banks which was never going to come. The Government has shown it is entirely in thrall to the banks notwithstanding that it is at the considerable expense of the Irish public that the banks are still functioning. The Government refused to object to the €843,000 salary paid to Bank of Ireland's CEO and shrugs its shoulders at any increase in interest rates at State-owned banks.

My colleague, Deputy Doherty, has illustrated that the Government has options if it is willing to adopt an approach focused on the needs of homeowners rather than banks. There is a need for a more realistic and socially responsible stance which prioritises in law the protection of the family home. The adequate resourcing of MABS and other non-profit groups working with people in mortgage difficulty is essential. People need access to information and advice rather than to be at the mercy of the banks. Crucially, as the Sinn Féin amendment highlights, there is a need to get rid of the veto provided to banks in the Personal Insolvency Act and to remove the final say that is given to banks in any arrangement as part of the mortgage arrears resolution targets. Many families are crying out for a break and helping hand. It is within the Government's power to provide that if it decides to stand up to the banks rather than to allow them the final call. I urge the Government to do so.

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