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Government to Adopt Sligo Initiative

Sligo's Senator Marc Mac Sharry has welcomed the government’s decision to commit to helping homeowners struggling with mortgage payments. The proposals outlined by Minister Eamon Ryan last weekend follow the work undertaken by Sligo based “Prevention of Family Home Repossessions Group”, and the Government proposals mirror those outlined in the group’s report, of which Senator Mac Sharry is a co-author and member.

The Sligo group which includes businessman Ignatius Beglane, Credit Union Manager - Barry O’Flynn, Solicitor - Dermot McDermott, Accountant -Cathal O’Donnell and Marc Mac Sharry where praised in the Dáil and Seanad this week for their efforts.

Independent Senator Joe O’Toole said that, “I have listened to Senator Mac Sharry for the past year put forward solid proposals on this issue”. The sentiment was echoed by Senator Ivor Callelly, “I particularly welcome and congratulate Senator Marc Mac Sharry on the fact the Government has given favourable consideration to his proposals in this regard.”

Senator Mac Sharry cautioned the government however on establishing an expert group to review the situation. “More than one year’s research has been done by our group and many others in the House. The establishment of an expert group to tell us effectively what we already know would represent
superficial window dressing for the public when this is an issue which has been teased out and researched in detail by this House in the past year, something of which it can be rightly proud.”

The Prevention of Family Home Repossession Group firmly believes that the best way to help those struggling to meet their mortgage payments is to amend the Enforcement of Court Orders Act to prohibit the granting of a Court order for repossession of a primary family residence due to mortgage arrears without the following being undertaken;

- A detailed independent analysis of repayment capacity
- An examination of the quality of the original mortgage application
- That the analysis brings suggested solutions to the court to allow
the debt to be addressed by the borrower

Mac Sharry concluded, “Whilst the Irish Banking Federation and the Money Advice and Budgeting Service have put protocols in place for banks, practice is telling us repossessions are continuing by those financial institutions which are not members of or affiliated to the Irish Banking Federation. Action must be taken without delay”.

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