Dara Murphy (Cork North Central, Fine Gael) | Oireachtas source

The debate in the past two days has highlighted the mortgage difficulties faced by many homeowners and the importance of implementing measures to assist those who remain in difficulty. In that regard, I compliment Deputy Joan Collins for tabling the motion, in particular on its timing. Representatives of the banks appeared before the Joint Committee on Finance, Public Expenditure and Reform today. Like others, I attended the committee as a member in the past few years until my appointment as a Minister of State and it is fair to say the banks have a different opinion.

I have before me a list of many of the measure the Government has taken. I will address some of the points made by previous speakers, in particular Deputy Joe Costello's point about the availability of proper statistics, not just to the committee but more generally. It is a point well worth following up on and I hope the Department will do so with respect to the difference between mortgage to rent properties and family homes.

I share the positive commentary of Deputy Regina Doherty on New Beginning and the introduction of a changed scheme which could made a difference.

Deputy Liam Twomey, as Chairman of the committee, has engaged following publication of its report on this issue which was presented to the Department in July. Many Deputies who were part of the cross-party committee felt measures contained within it could be of benefit in helping to solve many of the very difficult problems people faced. As Deputy Liam Twomey said, the Minister is giving consideration to many of the suggestions made in the report.

It is interesting to note that there appears from the contributions made to be a degree of consensus on the difficult choice to be made between the deposit one is required to have to purchase a family home and not wanting to have it so low as to fuel another property bubble. The key component is targeting and identifying the family home. To a large extent, the property bubble was not fuelled by people purchasing family homes.

The Minister, the Department and all of us in the Government parties are aware that there is a lot to be done. There have been some very significant measures introduced and some of the statistics for the reductions in numbers show that they are, albeit slowly, starting to take effect. Borrower engagement with banks, through the introduction of the code of conduct on mortgage arrears which was revised in 2013 to strengthen consumer protection and ensure fairness and sustainability, is vital, as is achievement of the mortgage arrears resolution targets.

I agree with the comments made on all of thes targets, percentages and statistics. Any of us who holds constituency clinics will be aware that it comes down to individuals and families. Deputy Mick Wallace said 99% of people wished to pay their home mortgages and we all have to acknowledge that this is the case. Strategic default is not happening as people are trying to pay their mortgages on their homes. We have also seen reform of the insolvency and bankruptcy regime which for some has been of assistance. The provision of the mortgage advisory service was the result of the Department of Social Protection's review last year.

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