Fidelma Healy Eames (Fine Gael) | Oireachtas source

There is a report in The Irish Times today on the Land and Conveyancing Law Reform Bill which is currently before the Dáil. There is concern about increased repossessions. I ask the Leader to investigate the matter as we must be careful and watch developments in this area. There is a concern that banks will chose to repossess properties where most of the mortgage has been paid off and the sale will clear the outstanding balance in full rather than to chose properties which are in deep negative equity. Let us stand together on this. People who have fallen on hard times but who have had a good record of payment must get credit. We must set clear limits for banks. Where someone has paid off 50% or 60% of a mortgage, that person's current difficulties must not mean his or her home is moved on for repossession. People's dignity must be recognised. I ask the Leader to check this out. While the legislation will be coming to the House, we must know that guarantees and safeguards are built into it to prevent banks from running over people without any respect.