‘Key stakeholders’ enter discussions with defective blocks lobby group
‘Massive step forward’ as finance and insurance bodies come to the table to discuss mortgage and insurance issues facing defective blocks homeowners
Defective block campaigners who have been lobbying the banking and insurance sectors over issues facing homeowners say they have made a “massive step forward”.
The Banking and Insurance Focus Group, which has been engaged in discussions with the banking and insurance sectors and the Central Bank of Ireland, says its efforts have resulted in several “key stakeholders” entering into discussions.
The lobby group said bodies including Banking & Payments Federation Ireland (BPFI), the Law Society of Ireland, Engineers Ireland, Insurance Ireland, and the Institute of Professional Auctioneers & Valuers (IPAV), “have now come to the table”.
Issues raised by the lobby group over the last two years include homeowners selling their properties at mortgage-backed values, the availability of mortgage top-ups, the switching of mortgage providers for better rates, home insurance, and access to loan-to-value interest rates.
The group says these issues, and others facing homeowners, require clear answers and coordinated action.
A spokesperson for the Banking and Insurance Focus Group said: “Following extensive efforts by our Group, we are pleased to announce that key stakeholders, including Banking and Payments Federation Ireland (BPFI), the Law Society of Ireland, Engineers Ireland, Insurance Ireland, and the Institute of Professional Auctioneers and Valuers (IPAV), have now come to the table.
“Having these crucial stakeholders fully engaged is an extremely positive development and represents a massive step forward in tackling the serious challenges posed by
defective concrete. This level of cooperation is essential to restoring confidence in the property market and ensuring affected homeowners get the clarity and support they need.
"Additionally, BPFI has invited the Department of Housing to participate in these discussions. With a newly appointed Minister for Housing, this presents a key opportunity for fresh, joined-up thinking. Their involvement would be a crucial step toward delivering real, workable solutions for homeowners and the wider property market."