Enda Kenny (Mayo, Fine Gael) | Oireachtas source

That is true. In quite a number of those cases, there has been no engagement whatsoever between the person who borrowed and the lender, which will never resolve the situation. In cases where the borrowers responded to the lenders, I am not happy with the situation where some banks appear to ignore the recommendations made by personal insolvency practitioners in the interests of cutting a deal and coming to a sustainable agreement for many house borrowers. A number of personal solvency people were before a Cabinet sub-committee recently and they gave some clear evidence of this. It is our intention to call in the banks very shortly to discuss the nature of the arrangements they make with people.

Nobody wants to see a primary dwelling go or to see a family out on the road in that sense. However, this will not be solved by leaving things untouched, by not negotiating or by not engaging. Banks and others are making money. We cannot have a situation where with confidence returning to the economy, borrowers are afraid to read letters, dump them and do not engage at all with the lender. That is not a solution. We have MABS, personal insolvency practitioners and others who negotiate with banks on behalf of borrowers for solutions which mean they can retain their family homes in the first instance. Nobody wants to see them lose their family homes. However, it takes the borrowers to engage, either directly or through any of the agencies that operate on their behalf, with the banks to come to a sustainable conclusion so they can hold onto their homes and at least have clarity about the future arrangements they will make, whether one of the whole range of options now available or otherwise.

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