Midlands North West MEP Colm Markey says he wants a European Parliament report into the defective blocks crisis to be changed.
Fine Gael’s Colm Markey submitted a number of proposed changes to the report, which he claims will give homeowners more of a say and place more pressure on financial institutions to help homeowners.
“I felt stronger language was needed in this report to call out the banks and ensure homeowners could access proper support services. Financial institutions need to recognise the impaired assets in their loan portfolio and take a proactive role in helping to address the impact, introducing more sympathetic lending conditions such as zero-interest loans to provide bridging finance. In addition, any remediation works need to be carried out to a satisfactory standard to ensure that mortgageable condition is restored.”
“Adequate and accessible information and guidance should also be provided to all applicants to the redress scheme at a regular basis. This includes the need for a wraparound support service that is properly resourced and operates during regular office hours to assist affected homeowners”, he continued.
MEP Markey also says there is a pressing need to examine exactly how many houses are affected.
“There must be a robust analysis to determine accurate figures as to the number of homes affected so that the scale of the crisis can be recognised, which can also serve to prioritise the houses most in need of works.”
“The scheme needs to deliver long-term value for money. In this regard it must offer a satisfactory and permanent solution, address all potential issues and take into account all available scientific knowledge.”
