Article updated, 10.30am
Defective block homeowners are being advised to contact their banks and insurance companies to raise awareness of the crisis.
A recent information meeting by the Mica Action Group heard from the Redress Focus Group for Banking and Insurance. It was reported that banks and insurers are getting ‘very few’ complaints or contacts from customers about the impact of defective blocks.
The problem is not being fully grasped, says Independent TD Thomas Pringle.
Deputy Pringle said: “I feel it is vitally important that people who have defective blocks in their houses let their mortgage providers and insurance companies know that they have a problem. It is only then that they will have to stop denying the problem and work with householders to actually come up with solutions. They will also then put pressure on the government to implement a scheme that will actually repair and restore properties for families.
“Banks are happy to use mortgages to borrow money to fund their profits and turn a blind eye to any potential problems. They need to be open and transparent that they are partners in the defective blocks crisis and not innocent bystanders,” he said.
Founder of the Redress Focus Groups, Roisin Gallagher said: “The Banking and Insurance Redress Focus Group are working hard to try to get products in place that currently do not exist for defective block homeowners.
“We need homeowners to help in this process by informing their lending institutions that they have or suspect they have defective blocks, otherwise lending institutions can keep on pretending they don’t have a major role to play here in fixing this crisis.”
Deputy Pringle said that formal communication is the ‘only way’ to force banks and insurance companies to take notice.
Deputy Pringle added: “I worry that some people believe that they will lose insurance on their property if they tell them that they have defective blocks. But if people make a claim I believe that the company will look for defective blocks and will not cover households that have not informed them of an issue.
“It is clear that the government don’t want to know any more about the issue of Defective Blocks and householders need to force them to act by forcing the Banks and Insurance Companies to take notice. Fianna Fail, Fine Gael and the Greens will listen to the Banks before householders unfortunately so we need to force them into the game to protect their assets.”
