Mortgage protection group to report by end of June

A GOVERNMENT working group looking at providing protection to people with mortgage difficulties will report by the end of June, but it remains unclear whether it will be debated in the Dáil before the summer recess.

Tánaiste Mary Coughlan said the working group “hopes to report by the end of June” but pressed by Labour leader Eamon Gilmore about whether there would be a Dáil debate, she said: “I cannot pre-empt that work, which is ongoing. If we can order our business to facilitate discussion on this, that is a matter for the whips.”

Fine Gael leader Enda Kenny raised the issue, pointing to the 4,000-a-month increase in the number of people in mortgage arrears. He said “the current figure is 36,000 but it may go as high as 300,000”.

Mr Gilmore said his party had been seeking a home protection scheme for more than two years, which would provide protection for people facing mortgage problems.

He was concerned they would have to wait until autumn before the Government brought the proposals before the House.

Mr Gilmore also asked for confirmation that the two initial reports about the bank inquiry would be completed by the end of May. The reports were conducted by the Governor of the Central Bank and the external group.

The Tánaiste confirmed the reports would be completed on time.

“The Government will consider them and the matter will then be laid before the House,” she said.