Catherine Noone (Fine Gael) | Oireachtas source

I accept that Members have valid points to make, but there is a need for them to be brief and not make speeches when contributing on the Order of Business, particularly as the Cathaoirleach or whomever is in the Chair can be put under pressure with regard to time overruns.

I echo the sentiments expressed by previous speakers in respect of mortgage arrears. The generation of which I am a member is the one which has been very much affected by the crisis relating to negative equity, mortgage arrears, etc. The most recent hike in mortgage interest rates on the part of AIB is very unwelcome. AIB is more willing to interact with mortgage holders than was previously the case, but, as Senator Aideen Hayden stated, the process in this regard tends to last for one year or two. One is obliged to wonder whether this relates to a need to massage the figures and statistics for overdrafts, etc. - to make it appear that banks are lending when they are not - rather than achieving real outcomes. I join previous speakers in asking that not the Minister for Finance but rather representatives of the banks come before the House to discuss this matter. On previous occasions, people from outside have addressed the House. Given that the State practically owns AIB, senior management from that institution should be brought before us to explain how they are handling the situation relating to mortgage arrears.