Peter Fitzpatrick (Louth, Fine Gael) | Oireachtas source

I welcome the opportunity to speak on the Private Members' motion on mortgage arrears. I, along with the Government, am only too aware of the great difficulties many families are facing in respect of mortgage arrears. My constituency office in Dundalk deals with constituents in serious financial distress as a result of mortgage arrears almost on a weekly basis. The situation in my constituency is not just confined to Dundalk but other areas including Ardee, Dunleer and Drogheda. From speaking to fellow Deputies it is clear that this is repeated throughout the country.

This situation, which we inherited from the previous Government led by Fianna Fáil, is a painful reminder of the disastrous and reckless policies pursued by the Members opposite in their pursuit of holding on to power at all costs. I find it incredible that the party that caused the biggest economic crash in our history now believes it can use the pain and suffering of the people who ended up as victims to further its own political ambitions. That is morally wrong, and this issue cannot be used as a political football, which all Members opposite seem to believe it can.

We, as the Government, understand the real pain people have gone through and the pressure they are under due to mortgage arrears. The only long-term solution to this arrears crisis is to ensure that the recovery currently taking place is felt by everyone, in every part of the country. There is no quick fix to this, as the Members opposite seem to believe.

Only last week a constituent made contact with me to inform me that he had secured full-time employment. This was the first time in over four years that he returned to full-time employment. To give the House some background on this case, this person first contacted me just over two years ago. He had fallen into arrears on his mortgage and was worried that he might lose his home. He had worked in the construction industry and was earning very good wages during the so-called Celtic tiger period. He purchased his first house during this period and took out his first mortgage. He, like so many others, did not expect the economy to crash. He eventually lost his job and was reliant on social welfare. As a result, he fell into arrears on his mortgage. I worked with him over a period of time and we negotiated a payment plan with his mortgage provider to ensure that he could remain in his home. The relief that he and his family felt when he got a new job recently is very hard to explain. He explained to me that it was like a weight being lifted off his shoulders and that he and his family could start to live again. That situation is being repeated throughout the country and proves again that the only way out of this crisis is through building a sustainable economy. I see that at first hand in my constituency where over 1,000 new jobs have been announced in Dundalk alone by the likes of PayPal ,eBay, Prometric and Sales Sense.

As a Government, our main priority in this matter is to ensure that families stay in their homes. There is a solution for everyone but we also know that those in long-term arrears are not making the same progress as others and that there are too many cases before the courts. I am pleased to note that we intend to examine the arrangements already in place to ensure there is a viable and sustainable solution for all those who want one.

I repeat that the only long-term solution to this crisis is to build a successful economy that is both sustainable and a benefit to all people. Only then will we see a reduction in mortgage arrears.

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