Brendan Ryan, Labour TD for Dublin North, spoke in the Dáil on Tuesday evening voicing concern over the Keane Report on Mortgage Arrears. Speaking to the House, Ryan raised concerns over the limitations placed on the Working Groups processes from the outset and raised potential problems for the recommended Mortgage-to-Rent scheme.
Ryan, "My primary concern is that the Government will implement the Keane Report's recommendations without rigorously examining the key proposals. Given the scale of the mortgage crisis, which let us remember is a human crisis and in many cases a family crisis, I find this Report lacks enough rigorous analysis to make adequate recommendations to solve the mortgage arrears crisis."
Ryan continued "I was disappointed to find out that the Working Group only met eight times and that some key data, including the number of mortgages on the verge of going into arrears, was not available to the Group. I also raised concerns about the proposed Mortgage-to-Rent scheme. I'm concerned about the capacity of Local Authorities to cope with the potential for thousands of extra properties falling under their remits for repairs and maintenance etc. In my constituency, Fingal County Council is pinned to its collar. At the end of this month we will see the regrettable end to Fingal County Council's bin service due to lack of funding and resources. Now the Keane Report recommends the potential handing over of properties in mortgage arrears to local authorities. This has the potential to cause major problems:
Ryan elaborated, "This past week we have seen residents of the Priory Hall Apartment complex in Donaghmede have to evacuate their homes due to critical safety concerns in the building's construction. There are estates in North Dublin afflicted with Pyrite and I know of many families living in Pyrite affected homes, currently in mortgage arrears too. Will the Local Authorities be able to repair and maintain these homes should the mortgage holder fall into a Mortgage-to-Rent scheme? The Government needs to be mindful of these potential issues when deciding on its policy in this area."
Ryan concluded "While welcoming the Report as an important stepping stone, and commending the work done, the people of Ireland put us into this house to push further to dig deeper and to work harder on finding the right course of action in this most important of issues."
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Brendan Ryan 618 3421


