The Banking and Insurance Focus Group has briefed the Oireachtas Finance Committee on issues pertaining to financial issues in the ongoing Defective Blocks crisis. The group is one of a number operating under the banner of the Redress Focus Groups initiative, which began in January.
Four members of the group addressed the committee, all of them arguing that banks should not be allowed to profit from the misfortune of homeowners.
One of them, Donna McDade is now in the process of rebuilding after her home was demolished. She told the committee she continues to pay her mortgage, and when she sought support from her bank, Permanent TSB, she was offered no more than a mortgage break, and loans at current market rates, subject to credit assessment.
Ms McDade told the committee that zero percent interest bridging loans should be the very least provided by banks, but her bank would not engage with her at all……….
You can hear the whole of Donna McDade’s opening statement here –
You can watch the whole of the committee hearing, with an annotated breakdown of segments provided by backstory.ie HERE
