Michael McGrath (Cork South Central, Fianna Fail)
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Question 119: To ask the Minister for Finance, further to Parliamentary Question No. 146 of 4 October 2011, if he will provide details of the total number of individual residential properties in the ownership of mortgage lenders regulated by the Central Bank of Ireland; the way these properties are being managed; if he will provide a breakdown of the properties between those repossessed, voluntarily surrendered or secured by another means; and if he will make a statement on the matter. [28798/11]

Michael Noonan (Limerick City, Fine Gael)
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The information to answer Parliamentary Question No. 146 of 4 October 2011 was acquired directly from the covered institutions and reflected the up-to-date position at each of the covered institutions. However, if we include all mortgage providers then the Central Bank of Ireland is the only comprehensive source of information on residential mortgage arrears, repossessions and restructures available. The Central Bank has informed me that the most up-to-date information is as at end of June 2011 and is published on the following web address http://www.centralbank.ie/press-area/press-releases/Pages/LatestMortgageArrearsDatashow72ofMortgageAccountsinArrears.aspx .

The Government understands the concerns many people have regarding their mortgage commitments. As the Deputy is aware, a number of measures have already been put in place to assist homeowners in mortgage difficulty, including the adoption of a revised Central Bank Code of Conduct on Mortgage Arrears which provides a framework that mortgage lenders must use when dealing with borrowers in arrears or pre-arrears.

However, it is clear that the mortgage arrears issue remains a significant one and the Government Economic Management Council asked that further work be carried out with a view to identifying a range of possible further responses appropriate to individual circumstances, and also to the wider economic and banking situation. This work was carried out by an inter-Departmental group, which was chaired by my Department and comprised representatives from other relevant Departments, the Central Bank and expertise from the banking sector.

I have not yet had the opportunity to present the report to Government. However, it is my intention to do so as soon as possible and it will then be a matter for Government to consider the report and its conclusions, and to decide on any future actions it way wish to take in the light of the inter-departmental report.