Dáil Committer recommends rescue scheme for home owners

Where lending has been reckless, all responsibility should not rest with the borrower but liability should be proportioned to the financial institutions and, if necessary, the broker that arranged the loan,” says the report, entitled High Levels of Indebtedness in Irish Society .

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The report says EBS chief executive Fergus Murphy told the committee this scheme was workable. It praises EBS for not charging penalty interest on mortgage arrears and recommends that this practice should be banned.

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The 12-month moratorium on house repossession that applies to AIB and Bank of Ireland should be extended immediately to all lending institutions, according to a report prepared by an Oireachtas committee.

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