Róisín Shortall
Ceist:269 Deputy Róisín Shortall asked the Minister for Finance his plans to support persons who are having difficulties meeting their monthly mortgage payments. [5061/09]
Amharc ar fhreagraTuesday, 10 February 2009
Ceisteanna (215)
Freagraí scríofa
As I stated in this House on 27 January 2009 measures are already in place to support households that experience difficulties in meeting their mortgage payments. For example, the Mortgage Interest Supplement, administered by the Community Welfare Service of the Health Service Executive on behalf of the Department of Social and Family Affairs, provides assistance where the mortgage relates to their sole place of residence. In addition the Money Advice and Budgeting Service (MABS), is a national, free, confidential and independent service for people in debt or in danger of getting into debt.
It is a particular priority of the Government to ensure as much as possible that difficulties in relation to mortgage arrears do not result in legal proceedings for home repossession. Home repossession should be, and generally is, the last resort for the lender and the preferred method of dealing with arrears cases should be early intervention.
A new code of conduct for Mortgage Arrears, based on the Irish Banking Federation Code of Practice on Mortgage Arrears is under discussion and will shortly be introduced by the Financial Regulator. The new code is expected to apply to mortgage lending activities to consumers in respect of their principal private residence in the State and to be mandatory for all mortgage lenders registered with the Financial Regulator.