LIMERICK City Green Party TD Brian Leddin and Fine Gael’s Kieran O’Donnell have been asked to explain why they voted against a proposal to provide temporary mortgage interest relief to their constituents earlier this week.
The call came from Limerick Sinn Féin Deputy Maurice Quinlivan, who said that both Deputies Leddin and O’Donnell voted to reject a Sinn Féin motion to introduce temporary and targeted mortgage interest relief for homeowners.
The city’s fourth TD, Fianna Fáil’s Willie O’Dea, was absent when the vote was called in the Dáil on Wednesday night.
“This happened just hours after the European Central Bank warned borrowers to brace themselves for a further three interest rate hikes by the end of July – on top of the six increases since last July.
“Last week’s forecast of a budget surplus of more than €10 billion this year was further evidence that the government has the scope to support homeowners.
“Last month, the European Central Bank increased its main lending rate for the sixth time since July 2022 to 3.5 per cent. Mortgage repayments have now risen by thousands of euros a year for many, with some now paying interest rates as high as 8 per cent.
“The proposed additional three ECB rate rises will mean the typical tracker mortgage-holder will have seen annual repayments shoot up by €2,500 since July of last year.
“Yet, with their eyes wide open to that fact, Deputies Leddin and O’Donnell turned their backs on homeowners in this constituency. I am calling on them to explain why,” Deputy Quinlivan explained.
“These increases are another obstacle standing in the way of aspiring first-time buyers, many of whom continue to suffer with crippling rents and rising house prices due to the government’s failure to deliver affordable housing.
“Sinn Féin has repeatedly called for the introduction of temporary mortgage interest relief, which would support struggling mortgage holders by up to €1,500, yet the government has failed to listen.
“I’m now calling on the government to take their heads out of the sand and to support Sinn Féin’s sensible and necessary proposals,” he concluded.
