Dáil Éireann Debate, Wednesday - 1 April 2015
24. Deputy Ruth Coppinger asked the Minister for Finance his views on a revision of the code of conduct for mortgage arrears to prohibit eviction from family homes and eviction of sitting tenants; and if he will make a statement on the matter. [13096/15]
View answerThe Central Bank's Code of Conduct on Mortgage Arrears (CCMA) governs the relationship between a regulated lender and a borrower who is experiencing difficulty in meeting the commitments on a mortgage which is secured either on the borrower's primary residence or on a residential property which is the only residential property in the State owned by the borrower. The Consumer Protection Code contains other protections for financial consumers including measures on the handling of arrears on loans held by a personal consumer. The CCMA, in offering extensive protections to borrowers in arrears, also provides that a lender may only commence legal proceedings for repossession where the lender has made every reasonable effort to agree an alternative repayment arrangement and where the specific timeframes set out in the CCMA have been adhered to or where the borrower has been classified as "not co-operating".
Regarding the governance of the relationship between residential tenants and residential landlords, this is primarily a matter for the Department of the Environment, Community and Local Government. In that regard, the Residential Tenancies Act 2004 provides the main regulatory framework for the private rented residential sector and prescribes the rights and obligations of landlords and tenants, including matters regarding security of tenure and rents, and the Private Residential Tenancies Board is responsible for the resolution of disputes between tenants and landlords.
