29 Apr 2014, 11:02
The Committee on Finance, Public Expenditure and Reform will conclude its hearings on mortgage arrears tomorrow, Wednesday, 30th April, 2014 when it meets with Lorcan O'Connor, Director of the Insolvency Service of Ireland, and Central Bank of Ireland Governor Patrick Honohan.
Committee Chairman Ciaran Lynch said: “Tomorrow, we will conclude our series of hearings on mortgage arrears and the resolution process to deal with the issue of arrears by providing long-term solutions. We are looking forward to meeting with Lorcan O’Connor of the Insolvency Service of Ireland. The mission of the ISI is to help restore people who are insolvent to solvency in a fair, transparent and equitable way. The Committee will also hear from Central Bank Governor Patrick Honohan on the issue.
According to the latest figures released by the Central Bank, the numbers of homeowners in mortgage arrears of over three months has fallen for the first time in almost five years. However, those figures mask a very worrying trend in long term arrears whereby those behind in repayments by more than two years has risen. Behind these statistics are real people struggling to make ends meet and it is important we find sustainable, long-term solutions for these people. Tomorrow we will have an opportunity to examine the extent of the problem with the Central Bank Governor, as well as a chance to consider the work of the ISI in helping to address the issue of mortgage arrears.”
The meeting takes place tomorrow Wednesday 30 April in Committee Room 3, LH 2000.
The schedule for tomorrow’s meeting is:
Session A: 10am
Lorcan O’Connor, Director, Insolvency Service of Ireland;
Session B: 3pm
Central Bank of Ireland Governor Patrick Honohan
Committee proceedings can be followed online here.
Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.
Media Enquiries to:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
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Committee Membership
Deputies
Richard Boyd-Barrett, People Before Profit
Michael Creed, Fine Gael
Pearse Doherty, Sinn Fein
Regina Doherty, Fine Gael
Stephen Donnelly, Independent
Timmy Dooley, Fianna Fáil
Alan Farrell, Fine Gael
Sean Fleming, Fianna Fáil
Simon Harris, Fine Gael
Joe Higgins, Socialist Party
Heather Humphreys, Fine Gael
Kevin Humphreys, Labour Party
Mary Lou McDonald, Sinn Fein
Ciarán Lynch, Labour Party (Chairman)
Michael McGrath, Fianna Fáil
Dara Murphy, Fine Gael
Kieran O’Donnell, Fine Gael
Aodhán O Ríordáin, Labour
Arthur Spring, Labour Party
Brian Stanley, Sinn Féin
Liam Twomey, Fine Gael
Senators
Sean D Barrett
Thomas Byrne
Paul Coghlan
Michael D’Arcy
Aideen Hayden
Tom Sheahan