Construction News

09/07/2014

More Information Needed On Local Authority Mortgage Arrears - FF

Fianna Fail has slammed the government for failing to provide enough information on local authority mortgage arrears.

31% of local authority mortgages are now in arrears according to figures, and 6,135 consumers are over 90 days behind in payments.

FF Finance spokesperson Michael McGrath said that the Department of Environment is refusing to publish data on the number of customers in arrears over 360 and 720 days.

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Mr McGrath said: "These are standard benchmarks that are used in respect of assessing arrears in the private residential market and identifying those most in danger of losing their home, yet in a recent Dáil reply Minister Jan O’Sullivan stated the Department does not have this data. I find this to be an extraordinary omission on the part of the Department of the Environment. We cannot accurately appreciate the extent of the problem if we are operating in an information vacuum."

Mr McGrath is urgently calling for the information to be provided immediately.

(CD/IT)

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