FG focuses on negative equity generation and debt distress - Coveney

Thursday, 17 February 2011

Today Fine Gael will be outlining in detail its proposals to assist
people in negative equality and to support families and businesses in
debt distress.

‘During the canvass in this election campaign, I am meeting so many
families who simply cannot afford to pay their bills and meet mortgage
and loan repayments. The stress and worry caused by falling incomes,
increases in taxes and rising interest rates is causing real hardship on
families’ said Coveney

‘Fine Gael is determined to offer help and reassurance where practical
to the negative equity and debt generation. In our election manifesto,
we outline a range of measures to help families in mortgages arrears,
improved mortgage interest relief (for people who purchased a house
between 2004 – 08), deferred interest payment proposals using pension
savings to ease debt distress and the banning of penalty interest on
restrued mortgages.’

‘Dealing with debt management must be a key priority of the next
Government, particularly in the household mortgage market’ concluded Coveney