Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

My question and my remarks referred specifically to the fact that more than 100,000 homes are at risk of imminent repossession. This is the level of distress among residential mortgages and mortgages in the buy-to-let sector. Let us remember that buy-to-let properties are homes for many thousands of families across the State.

In 2012, we argued for a public insolvency service which would have the authority to make binding settlements in cases of mortgage distress. This system would be similar to those in other European jurisdictions.

The Government refused to listen to that argument at the time. Instead, with its eyes wide open, it gave the banks the power to dictate terms to distressed mortgage holders.

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