Madam, – The passing of the Land Act of 1903 made it possible for the tenantry who wished to do so, to purchase the freehold of their farms, and repay the loan over a period of 35 years. During the Economic War of the 1930s many of these could not afford the repayments so the Irish Government halved the repayments but doubled the number of years to 70. This made it possible for the Irish farming community to secure their holdings for their descendants. Towards the end of the period the repayments or the rent was so small as not to be a burden.
Perhaps a similar scheme would solve the problem for today’s borrowers who cannot afford the repayments on their private dwellings. – Yours, etc,