The number of court orders for the sale or repossession of a home in Ireland in the first quarter has increased by 50%, according to the Central Bank's Residential Mortgage Arrears and Repossessions Statistics.

The figures also revealed a 10% increase in the quarter in legal proceedings issued to enforce the debt/security on a residential mortgage.

Fianna Fáil Finance spokesperson, Deputy Michael McGrath, said the Government have continually failed to get a grip on mortgage crisis.

He said: "In recent weeks, there has been a flurry of ministerial announcements with the purpose of giving the impression of action.

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"However, it will be months yet before any legislative changes are implemented. In the meantime, hundreds of families are being brought through the courts and face imminent risk of losing their home.

"This is as a direct result of the government consistent refusal to listen to advice on this issue.

"The state of the sub-prime sector is truly shocking. More than 50% of these mortgages are in arrears and 25% are greater than two years behind in their payment. The situation is showing no sign of improvement.

"The number of arrears cases greater than two years continues to rise. These families are at the most acute risk of losing their homes and the promised legislation to end the bank veto is urgently needed to assist these families.

"There is still considerable doubt about the quality of restructurings that are being offered to families, many of these are little more than sticking plaster solution."

(CD/JP)