Finance Committee meeting to focus on mortgage distress

The Committee on Finance, Public Expenditure and Reform, and Taoiseach will meet tomorrow, Tuesday 20 June at 2pm in Committee Room 2, Leinster House.

19 June 2017

Session A: Report on Options for Ireland's Mortgage Market [Ms. Isolde Goggin, Chairperson, Competition and Consumer Protection Commission]; and

Session B: Distressed Mortgages - Legislative Proposal [Mr. Brian Reilly, RIGHT2HOMES]

Committee Chairman John McGuinness TD, said, “The report by the Competition and Consumer Protection Commission (CCPC) on the Irish mortgage market is welcomed as it is the first comprehensive report on the state of the mortgage market following the financial crisis.  CCPC chairwoman, Isolde Goggin, will brief the Committee on the report findings and the actions needed to ‘fix’ the market and to lower the cost of mortgages and better protect consumers.”

“The second part of tomorrow’s meeting will deal with a draft legislative proposal to establish a state agency that would buy distressed loans from home-owners and enable them stay in their homes. Brian Reilly from RIGHT2HOMES will address the Committee on the ramifications of such a move and how it could help to alleviate the mortgage crisis.”

Committee proceedings can be viewed live via the following here.

Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.

ENDS/

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Committee Membership:

Chairman: John McGuinness TD (Fianna Fail)

Vice-Chairman: Senator Gerry Horkan (Fianna Fáil)

Deputies:

Peter Burke (Fine Gael);
Michael D’Arcy (Fine Gael);
Pearse Doherty (Sinn Féin);
Michael McGrath (Fianna Fail);
Paul Murphy (AAA);
Seán Sherlock (Labour)

Senators:

Paddy Burke (Fine Gael);
Rose Conway-Walsh (Sinn Fein);
Kieran O’Donnell (Fine Gael)