Alan Kelly (Tipperary, Labour) | Oireachtas source

Yesterday the Tánaiste, the Minister for Finance and the Minister for Public Expenditure and Reform met with representatives of the banks. As we all know, the outcome was that payment breaks will no longer be offered to borrowers who are in trouble due to Covid. Statistics issued by the Central Bank show that more than 56,000 family homes were in mortgage arrears at the end of June. There is a code of conduct for mortgage arrears in place to protect borrowers but, as the Taoiseach will know, it is very much weighted in favour of the banks.

I am asking the Taoiseach in light of these statistics and the depth of concern that many in this House have for those borrowers who have been on to us. Will the Taoiseach bring forward some form of amendment to strengthen the code and rebalance it so that borrowers are not at the whim of the banks to the degree that they are under the code at the moment?

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