Dáil Éireann Debate, Thursday - 16 February 2012
63 Deputy Clare Daly asked the Minister for Finance the steps he will take with mortgage providers to request that they freeze all mortgage accounts of residents of Priory Hall, Dublin, with no effect on credit rating, pending resolution of the problems in the area. [8944/12]
View answer70 Deputy Seán Kenny asked the Minister for Finance the steps he will take with the Bank of Ireland, the EBS and the Bank of Scotland Ireland to request them to comply with the application by Priory Hall home purchasers for a moratorium on their mortgages while they are out of the homes, by order of Dublin City Council fire officer, and forced to rent alternative accommodation, while they are waiting for a resolution of their case by the Supreme Court. [9018/12]
View answerI propose to take Questions Nos. 63 and 70 together.
I am conscious of the difficult situation that the residents of Priory Hall find themselves in.
The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. A mortgage agreement is a contract which cannot be altered without the consent of the parties. I, as Minister for Finance, have no powers in this regard and cannot require the lenders to alter contracts to accept a suspension in mortgage repayments.
In addition, in view of the case before the Supreme Court, which is referred to by Deputy Kenny, it would be inappropriate for me to comment any further on the matter.
