Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank the Minister for meeting with them. This is an ongoing process. When banks were issuing this loans, no one foresaw that we would see a scenario whereby thousands of homes need to be demolished and rebuilt. I know some of the individuals who are already in the process of doing so. It means they have to get bridging finance in the region of €70,000. Many families are not going to get that type of a loan. There is a serious issue regarding the application of the scheme despite its flaws and its faults. There has to be some type of bespoke arrangements within the banking sector to recognise that there are unique sets of circumstances here where houses that underpin these mortgages are going to be knocked down and rebuilt. There are also issues in relation to the terms and conditions, bridging financing and to the fact that the Government is not providing the 100%. Many of the people involved are at pension age. They have to knock down their homes and they do not know where they are going to get the rest of the money. The banks have a responsibility to put in place structured and affordable forbearance measures for them. We have engaged with the banking sector in relation to this. I have engaged with the Central Bank. I know the Minister has met the group. Has the Minister now had these conversations with the banks? I know it was only yesterday that the Minister met the groups. Is the Minister going to have those conversations with the banks and the Central Bank and what action does he plan to take?

See this speech in context