Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Social Protection if she will confirm the date the independent mortgage advice function became operational; if she will provide details of the number of mortgage customers who have to date contacted the mortgage arrears information helpline; if she will provide details of the number of mortgage customers who have to date received advice from an accountant from the mortgage arrears information and advice service panel of accountants; and if she will make a statement on the matter. [7038/13]

Willie O'Dea (Limerick City, Fianna Fail)
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To ask the Minister for Social Protection the number of independent financial advisors that have been appointed and that are in place providing advice as part of the new mortgage advice service launched last September; and if she will make a statement on the matter. [7196/13]

Joan Burton (Dublin West, Labour)
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I propose to take Questions Nos. 349 and 395 together.

In September 2012 I announced a three-phased approach to establishing a comprehensive Mortgage Arrears Information and Advice Service, to provide the necessary supports to assist people in mortgage distress. The approach differentiates between mortgage information and mortgage advice. The first two elements involve the enhancement of the website and the establishment of a Mortgage Arrears Information Helpline within the Citizens Information Board (CIB), both of which focus on the provision of comprehensive mortgage arrears information in particular to people in arrears or pre-arrears.

The third element of the service is the provision of independent financial advice to mortgage holders who are being presented with long term mortgage resolution proposals by their lenders. This advice will be provided by a panel of accountants drawn from members of the main accountancy institutes in Ireland who have agreed to participate and support this independent service.

When a lender is proposing longer-term mortgage resolutions, the lender will advise the borrower to obtain independent financial advice on the proposed arrangement and, if the borrower wishes to avail of this option, that the lender will pay €250 to an accountant of the borrower’s choosing for the provision of this advice. The independent financial advice is available to all mortgage holders in respect of a mortgage secured on a primary residence who have been offered long-term forbearance options by their lenders. An operating protocol for the provision of this advice has been agreed between the main accountancy bodies and the Irish Banking Federation. To date, some 2,700 accountants have confirmed to their accounting body that they wish to be part of the panel and their details are listed on a county by county basis on the website .

Since its establishment, more than 2,400 people have contacted the Mortgage Arrears Information Helpline while there have been over 56,000 visits to since June 2012. The number of borrowers who have availed of the independent financial advice service is not yet available. The Central Bank of Ireland is engaging with lenders on the reporting requirements in relation to this new service and statistical information should be available at the end of quarter 1 this year.