David Cullinane (Sinn Fein) | Oireachtas source

I thank the Minister of State for his lengthy response. I support the Bill, for which thousands of families have been waiting. Many who are in this situation have campaigned for some time. Others may only be waking up to the reality that their mortgages are owned by venture capitalist firms and they will receive new demands in the post from such companies. I want to put on the record people like Denise McCormack and the IBRC mortgage holders group, who put this issue firmly on the agenda. Had it not been for their campaigning we would not be here today. It is a credit to their bravery and courage that we are discussing this Bill.

The Minister of State mentioned that there was consultation. That is a good thing and we welcome it, but when one considers the paragraph we are seeking to remove, one would believe that it was included based on lobbying from the vulture fund companies involved in the purchasing of mortgages. We have met people who are affected and those who have had their mortgages sold to vulture fund companies. We are here to represent people who have been affected by such sales.

The Bill should not limit any recourse action against such companies. Therefore, it would be strengthened by the removal of the paragraph. While the Minister says there is no need for it, those affected do not believe that. They have asked us to put forward an amendment to remove the paragraph for the reasons I have stated. Having said that, I welcome this as a very positive step forward in the context of the Bill. I will not need to speak again as I support the Bill. I thank the Minister of State for his contribution and I will listen to any response. We will press the amendments.