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Mortgage repayment support package required – Ó Snodaigh

10 March, 2008


Sinn Féin Housing Spokesperson Aengus Ó Snodaigh TD has called on the Minister of State with responsibility for Housing to set in place a mortgage repayment support package to help homeowners at risk of losing their homes as a result of negative equity. Deputy Ó Snodaigh was speaking today after it was revealed that house repossessions increased by 33% last year.

He said, "As house prices continue to fall we are seeing an increase in home repossessions. This comes as no great surprise. Sinn Féin, along with others, had warned that this would happen if the Government continued to allow banks to give out irresponsible, unsuitable home loans.

"However, the Government ignored all the warnings leading to the current situation where many young families face losing their homes and many thousands more are living on the breadline in order to keep up with their mortgage repayments.

"It is now imperative that the Government comes up with innovative solutions to help those most at risk - those on low and middle incomes. I would urge the Minister for State with responsibility for Housing Batt O'Keefe to seek a meeting with his colleague the Minister for Social and Family Affairs Seamus Brennan with a view to setting in place a mortgage repayment support package for those most at risk of losing their homes." ENDS

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