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93.1% increase in home repossessions: Where is Margaret Ritchie’s Mortgage Protection Scheme?

29 January, 2009 - by Fra McCann

Sinn Féin MLA for West Belfast Fra McCann has said the release of figures, showing a massive increase mortgage and house repossessions in the DSD quarterly housing bulletin is an indictment on the failed policies of the Social Development Minister.

Mr McCann said:

"The figures released in the Quarterly Housing Bulletin, issued this week by DSD, show a 93.1% increase on mortgage/home repossessions in 2008 when taken against the same period in 2007.

"I had stated earlier this week that the Minister had failed to bring any scheme forward to help those people who are loosing their homes and facing imminent repossessions.

"These figures should embarrass the Minister into action. If Margaret Ritchie fails to implement a scheme, as promised last year, with urgency then record numbers of people are going to find themselves before the courts and lose their homes. In the first 6 months of this financial year between April and September 1,935 homeowners have had their homes repossessed

"The Minister must know what needs to be done to protect those who are vulnerable as a result of the economic downturn, because the rest of us do. I will be writing to her demanding action be taken before its to late for many home owners."

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