Four Out Of Ten Council Housing Loans In Serious Arrears

Sinn Féin's spokesperson on Environment, Community & Local Governmenthas challenged the government to provide assistance for 9,000 families in arrears with their local authority mortgages.

Deputy Brian Stanley TD was speaking after a he received information in a reply to a Dáil Parliamentary Question which showed that almost four in every ten affordable and shared ownership loans are in arrears.

Deputy Stanley said: "Almost four out of ten loans received through local authorities to purchase houses are now in arrears for more than 90 days. This compares with one in twelve in the private market. This was confirmed in a response to a Dáil question which confirmed that 38.9% of all affordable and shared ownership loans are in arrears. This is causing huge distress to families who fear they will be losing their home and in turn causing financial problems for the local authorities in question.


"The government gave a commitment in the Programme for Government to tackle mortgage distress. Yet today the Tánaiste Eamonn Gilmore failed again to give any commitment to introduce legislation to provide support for those in arrears with local authority mortgages."

"I think these facts clearly indicate that there is very much a crisis within local authority mortgages and it needs to be dealt with immediately."

(CD/GK)