Donegal County Council is set to call on the Department of Housing to ensure that banks and lending institutions provide 0% bridging loans to defective block homeowners.
Councillor Terry Crossan said that many homeowners are prevented from beginning works due to the initial costs.
He said that 0% bridging loans as working capital would help homeowners progress with remedial works.
Speaking at a meeting in Lifford yesterday, Cllr Crossan said that it’s an extremely difficult process: “Any homeowners that have commenced repairs on their own have been left waiting for several months for grant payments.
“Individual homeowners are struggling to obtain working capital from banks, other institutions are more helpful like the credit union, but banks in particular appear not to be helpful at all.
“I’m asking that the Minster urge banks to provide 0% bridging loads as working capital for applicants to allow the enhanced redress scheme to operate more smoothly for everybody.”
The motion was seconded by Cllr Albert Doherty who said that the advisors for defective blocks have confirmed that financial issues are at the fore of putting people on the road to resolution to their defective family home.
“This is a key ask for the financial sector to play an important role,” Cllr Doherty said.
Cllr Crossan’s motion was passed and the request will be forwarded to the Department of Housing, Local Government and Heritage.
Cllrs expressed hope that the motion would be brought before the new Department of Housing sub-group which was set up to examine issues relating to homes remediated under the defective concrete blocks scheme.
Cllr Crossan added: “I would like to urge every one of influence to continue to put pressure on financial institutions to help alleviate the stress that is already being placed on Mica homeowners.
“As if it’s not bad enough being in the position that they are in, but then to find they come up against other constraints that hold them back from making progress in the remediation process.”
