Michael McGrath (Cork South Central, Fianna Fail)
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I appreciate the difficulties being faced by Mica homeowners and, as the Deputy is aware, the Government response on this issue is led by my colleague the Minister for Housing, Local Government and Heritage.

The provision of bridging loans or any other form of credit by Central Bank regulated entities, subject to complying with the general legal and regulatory requirements which govern the provision of credit to consumers and other borrowers, remains a matter for each regulated lender.

It is up to each lender to determine their own credit policies such as on the types of credit they wish to offer to the public and the interest rate to charge for such credit, and also to make their own decisions on individual applications for credit. These are commercial decisions, which is the sole responsibility of the board and management of each bank.

That said, as I have recently indicated in the House, both Minister Carroll MacNeill and I are willing to meet the Banking and Insurance sub-group of the Mica Homeowners’ Action Group to further discuss these issues and to be as helpful as we possibly can be.