Joan Collins (Dublin South Central, United Left) | Oireachtas source

I support the Bill and I think it should be passed. It is very similar to a Bill I introduced two years ago. It is similar in seeking to remove the veto of the banks and seeks to use the machinery set out in the Personal Insolvency Act. In 2009, I noticed this when I was knocking on doors during the local election. We knew that things were happening behind closed doors but only in that election campaign did we start hearing people talking about huge mortgage arrears. This is a crisis but one does not get that impression from the Government's response to date. Deputies are aware of the pressure and the distress of tens of thousands of families struggling to keep a roof over their heads.

In 2011, a family from Ballyfermot came into our office. The man had lost his job and the woman was on part-time work and they had three young kids. They had purchased a house a year before that and I could see the stress, grief and anger in their faces. We managed to get a mortgage to rent arrangement and it was like seeing a new couple walk in the door a month later. They were completely different people.

Deputies are aware of the increasingly ruthless and heartless approach by banks. The banks want their pound of flesh and with house prices rising rapidly we can expect to see an increase in repossessions, which is a polite term for eviction. The code of conduct and insolvency legislation are, to put it bluntly, useless. I tried to introduce legislation recently to make it legal. This is not a solution but a pretence at a solution.

The mortgage to rent scheme is the only sustainable option for many families but it was never an option about which the banks were enthusiastic. The limit is €220,000 and that must be increased to €300,000 in Dublin. I ask the Minister to consider it.

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