Home Community Low-interest loans needed for homeowners impacted by serious safety defects

Low-interest loans needed for homeowners impacted by serious safety defects

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Labour Party General election candidate for Dublin South Central, Rebecca Moynihan, has called on the Government should establish a low interest loan fund for householders whose homes have been hit by defects.

Councillor Moynihan said:

“We know from media reports that there are at least four apartment blocks across Dublin City and Council that have serious fire safety problems and structural defects, impacting hundreds of families.

“In my own constituency, apartment owners at Hyde Square in Kilmainham are facing bills of €11,000 per apartment to fix the decaying roof. The roof is currently held together with push-pull ties because the plywood underlay is disintegrating.

“Residents are rightly extremely worried by the fire safety issues because of the disintegrating roof. Expecting residents to pay €11,000 on top of mortgage payments and management fees, is not feasible.

“A low interest loan provided by Minister Murphy’s Department would go a long way to alleviating the financial pressure residents face if those who built the defective homes refuse to pay the cost.

“The costs that are associated with owning a home in Dublin are already hard for so many to take, adding in costs to make the homes that many have worked so hard to buy, safe to live in is not fair. These residents are already under enough stress, we need to ensure there are measures to alleviate costs.”

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