Taoiseach says Central Bank will oversee new strategy for those with mortgage difficulties

The Central Bank will have independent oversight of arrangements made between banks and those with mortgage difficulties, Taoiseach Enda Kenny has told the Dáil.

He said Minister for Finance Michael Noonan would reveal all of the details of the Government's plan later today, with similar announcements by the Central Bank.

“What we want to see here is an opportunity for those 100,000 people to have some sense of security for the future,’’ he added.

Fianna Fáil leader Micheal Martin said Central Bank governor Dr Patrick Honohan had said he was tearing his hair out on the issue.

Accusing the Government of engaging in bluster, he said they should talk to people in mortgage arrears with salaries and wanted to do a deal.

“All they get in response is the banks putting obstacle after obstacle up,’’ he added. There was no engagement between the banks and the customers.

Mr Kenny said that Fianna Fáil in power had failed to talk to people in mortgage distress.

Sinn Féin leader Gerry Adams said the Government had taken a softly, softly attitude to the banks.