THE Limerick-based leader of the country’s newest political party has called for an ombudsman to step in between banks and people facing repossession of their homes.
Thousands of struggling mortgage holders fear losing their family homes after the government this week passed legislation which overturns a court decision to put a block on repossessions.
The new Land and Conveyancing Act means that banks can decide whether or not to strike a deal with homeowners and owners of buy to let properties where the mortgage is in arrears. Banks say that a large portion of those in arrears are selective defaulters.
But Martin Critten from Kildimo, founder of the National Independent Party, says the new legislation is not the answer.
“To use the red herring of selective defaulting is an insult to more than 190,000 mortgage holders who are in real distress. There might be one percent selectively defaulting but that doesn’t mean the other 99 per cent should be held to ransom for them,” he told The Limerick Post.
Mr Critten said his party is “totally opposed” to the banks approach to mortgage problems
‘We need a separate ombudsman to deal with the situation of mortgage arrears before the banks can repossess, given the extent of Ireland’s problems.
“Enda Kenny doesn’t have the backbone to stand up to the banks. The banks are complicit in this catastrophe”.
via New law puts homes in firing line | Limerick Post Newswrite.
