The 100% Redress Party is seeking clarification on the mortgagability of homes remediated under the defective concrete blocks scheme amid calls for the standard IS465 to be scrapped immediately.
The Party’s four councillors have been corresponding with the Banking and Payments Federation Ireland, Central Bank and other stakeholders on the pressing issue.
Meanwhile the appeals process into downgraded remediation options is due to take place, which will decide the final fate of homes which have been assessed by the Housing Agency using the current IS465 standard. The standard, created in 2017, has been blasted as flawed and not fit for purpose.
In a statement, 100% Redress Councillors said: “As it stands, it’s doubtful if engineers will sign off on remediated properties. Engineers Ireland have also said that IS465 is not fit for purpose. Without engineers confirming the property is structurally sound the likelihood is that remediated homes will be unmortgagable leaving homeowners’ futures up in the air as they will never be able to sell their property.”
Councillor Tomás Seán Devine said: “These homes need to be treated like every other home in the country and must be insurable and mortgagable.
“It appears anything other than full demolition and rebuild will guarantee that. The science is there and the only people not listening to the facts is the government. Thousands of affected properties remain on the bank’s books at full market value whereas currently they are only worth the land they sit on.”
The 100% Redress Party is calling on the immediate replacement of the standard IS465 which is being used currently to assess homes affected by defective concrete products.
The Party’s four councillors have met with scientists and researchers who are unanimous in their conclusion – based on the scientific evidence – that the cause of the cracking and crumbling of homes in Donegal is due to an internal sulfate attack.
The Party’s representatives say that the facts can no longer be ignored, especially ahead of the appeals process.
The Party is concerned that the appeals process is more of a “procedural undertaking” for the Housing Agency’s engineers and decisions on remediation will not be overturned.
Councillor Joy Beard said: “The review of IS465 must happen before these decisions are made by the appeals panel. These homes have been downgraded based on a flawed standard which is ridiculous. The standard IS465 is not fit for purpose just like the concrete used to build our homes.”
