Bernard Durkan (Kildare North, Fine Gael)
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Question 91: To ask the Minister for Finance the progress that has taken place in the matter of new provisions to assist homeowners who through no fault of their own have fallen into arrears and who may find themselves in danger of repossession; if it is intended to introduce measures as promised during the passage of the National Assets Management Agency legalisation in this regard; and if he will make a statement on the matter. [25995/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Renewed Programme for Government sets out the Government's commitments for introducing new measures to protect families having difficulties with their mortgage repayments and personal indebtedness under the headings Protecting the Family Home and Helping Those in Debt. I have spoken extensively about the Government's intentions in this regard, including during the passage of the National Asset Management Agency legislation as referred to by the Deputy.

Repossessions in Ireland continue to be low and a comparison of repossession figures for Irish Banking Federation members who are the mainstream lenders, not including sub-prime lenders, with figures from the UK Council of Mortgage lenders shows that UK repossession rates per 100,000 mortgages at thirty times those in Ireland.

In addition, I note from the Financial Regulator's most recent data on mortgage arrears and repossessions that there has been a decrease of almost 31% in the number of applications to the Courts by mortgage lenders for legal repossession of properties in arrears, compared with figures for end quarter 2009.

The Deputy will be familiar with the support measures in place to assist those homeowners in difficulty. These measure include the Financial Regulator's Code of Conduct on Mortgage Arrears which requires lenders to wait at least 12 months from the time arrears first arise before applying to the courts to commence enforcement of any legal action on repossessions; the Mortgage Interest Subsidy Scheme which provides money, subject to a means test, towards the interest payments on a home mortgage; and the services provided by the Money Advice Budgeting Services (MABS). MABS is the main Government funded service which provides assistance to people who are over-indebted and need help and advice in coping with debt problems.

The Deputy will be aware that in February this year, I announced the establishment of an Expert Group on Mortgage Arrears and Personal Debt, under the Chairmanship of Mr. Hugh Cooney. As part of its work, the Group has held discussions on mortgage arrears issue with stakeholders representing lenders and borrowers. I understand that the Group will be ready to report to me with its recommendations on the mortgage arrears issue by the end of this month.