The banking sector has been urged to bring forward credible financing solutions to assist homeowners affected by defective blocks.
Homeowners in crumbling houses have been hit with rising mortgage costs and financial shortfalls as they enter remediation.
Deputy Pearse Doherty said that it is in the interest of banks that these homes are remediated, and their asset values restored.
Doherty, who is the Sinn Féin spokesperson on Finance, said that the situation faced by homeowners is not sustainable.
“Over the past several months, I have engaged extensively with the Banking and Payments Federation, retail banks, the Central Bank and Minister for Finance on this issue,” Deputy Doherty said.
“And have underlined the need for bespoke arrangements to be put in place to assist homeowners with rising mortgage costs and to address finance shortfalls including the provision of bridging finance.
“It is now time for the banks to bring forward credible financing options without delay.”
Deputy Doherty said that the Finance Committee has already heard the concerns of the Banking and Insurance Redress Focus Group.
“It is time for the banks to grasp the severity of this issue and bring forward a credible solution without delay,” he added.
