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Fra McCann calls on Social development Minister to deal immediately with the serious problems of mortgage defaults.

1 October, 2008


Fra mc Cann Sinn Fein MLA for West Belfast has called on Social development Minister to deal immediately with the serious problems of mortgage defaults.

Cllr McCann said,

"Whilst I recognise there is the beginning of a consultation period on mortgage relief which is due to be completed be the 21st of November it could be next spring before any scheme will be initiated. This will be too late for many hundreds of people who will have had their homes repossessed.
"Last year, the minister, through registered housing associations bought up hundreds of houses on the open market and hundreds more off the shelf; if she can do this surely she can instruct them to do the same with those who have fallen foul of the current economic crisis we find ourselves in.

"Many who lost their homes will be forced onto the waiting lists, and with few social houses being built will spend years waiting on re-housing. This can be short circuited by buying out their mortgages and allowing them to live their ether on a rent or shared equity."

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