House Repossessions

Part of FINANCE AND personnel – in the Northern Ireland Assembly at 3:30 pm on 23 March 2009.

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Photo of Nigel Dodds Nigel Dodds Shadow Spokesperson (Business, Enterprise and Regulatory Reform), Without portfolio, Shadow Spokesperson (Justice), Shadow DUP Spokesperson (Without Portfolio) 3:30, 23 March 2009

The question that I answered previously related to possible assistance from the Executive, and that money will come out of public finances and public resources. There are, therefore, other competing demands and pressures on those, so it is important that the banks, building societies and other financial institutions do their bit for households and people who are facing difficulties at this time.

Times are difficult, and money is tight for people. Public bodies, such as the Rate Collection Agency, are discovering that in their efforts to collect money. Therefore we have to be sensitive to those issues.

I am aware that actions have been taken at a UK level and that new protocols are being considered by the courts in relation to showing that certain actions have been taken by lenders before an order for repossession — which is the ultimate recourse — is given. Those new protocols also state that there should be a minimum time before orders are sought. There is a duty on us all — not least on financial institutions such as banks and building societies — to do what we can to help those who face difficulties as a result of the severe challenges that confront us all.