Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

There are many issues for those whose homes have defective blocks in my county of Donegal and right down the west coast. However, tonight I want to focus on one part of it which is the issue of the banks, mortgages and access to finance. Because of the scheme brought forward by the Government, all families are left with a significant shortfall in rebuilding their homes and rebuilding their lives. Despite this, they are trying their best under the scheme. In some cases, their homes have been knocked down and are now rubble. The banks are charging for the full mortgage. There is no relief whatsoever despite there being a condition in their mortgage contract that they need approval from the banks to demolish their house. They also have serious issues with bridging finance because of the way the scheme was developed with a retention of a portion of the grant at each stage which means they have to go to family, parents or the credit union to get an unsecured loan with interest of up to 12%.

What has been foisted on these families is absolutely appalling. They should never be contractors trying to build their own homes and manage these projects. What engagement has the Minister had with the banks? What engagement has he had with the Central Bank on the matter? We need everybody around the table. It should not be left up to the homeowners. We need support and we need action. It is not fair. If the Minister sat down with them, he would find that their hearts are broken, their houses are in rubble and they have serious issues with finances. What is happening is just heartbreaking.

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