Mick Wallace (Wexford, Independent) | Oireachtas source

While I realise the Government has introduced initiatives which should help borrowers in their negotiations with lenders, the reality is a little more difficult for the lender. Sadly, despite the initiatives the Minister has introduced, there is very weak compellability on the lender to treat the borrower in a fashion that is 100% fair. I have found the banks inconsistent in their approach to distressed loans, commercial or private and, unfortunately, this is leading to repossessions. If a borrower wants to have the mortgage to rent scheme applied to his or her situation but the lender is against it, the borrower will find it impossible to make it happen, no matter how much he or she argues for it. While the Minister referred to the appeal process, given that the lender is not obliged even to inform the borrower of its decision making process, it is very difficult to appeal a decision.

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