Dáil Éireann Debate, Wednesday - 28 April 2010
90 Deputy Joan Burton asked the Minister for Finance the progress made to date by the interdepartmental mortgage arrears review group; if he envisages a need for legislation to implement the recommendations of the group; and if he will make a statement on the matter. [17195/10]
View answerThe Deputy will be aware that in February this year, I informed the Government of my proposals regarding expanding the membership of the Interdepartmental Mortgage Arrears Group, under the Chairmanship of Mr. Hugh Cooney. This revamped Mortgage Arrears and Personal Debt Group's (the Group) Terms of Reference, which I approved, were incorporated into the supplementary documentation for the Statement on Banking which I delivered to this House on 30 March 2010.
The Group, which has met on a number of occasions, is initially exploring the feasibility of a range of possible options for improving the level of mortgage support to homeowners in difficulty. I understand that proposals will be based on factual information gathered by the Group and will take into account the findings of existing reports and mortgage support schemes in operation in other jurisdictions. The Group will report to me with its recommendations on a rolling basis and will submit a final report to me by the end of June of this year. Until the Group reports to me with its recommendations I am not in a position to say if legislation will be required.
