Banks and mortgage lenders must do more to help people who are struggling with repayments, a local councillor has said.
Shantallow Sinn Féin councillor Tony Hassan said growing numbers of people in the city are finding it difficult to make their mortgage repayments in the current economic downturn.
Colr Hassan described the situation as “worrying.”
“The announcement that more and more homes are being repossessed in the city and across the north over the last number of months is very worrying and shows that despite the huge bailouts that the banks have received in recent times, they are not showing mortgage holders much understanding,” he said.
The Sinn Féin colr. called on the banks to do more to help people in financial difficulty. “More needs to be done to help those people in Derry who are facing difficulty in meeting their mortgage repayments as a result of the recession.
“There is a perception that banks and their debt collectors are acting far too fast to repossess properties and more must be done to accommodate those who are having difficulties in making their repayments,” he explained.
Colr. Hassan also encouraged anyone experiencing mortgage difficulty to seek help from local financial support groups.
“Banks should not be repossessing properties which leave homes empty.
“People who find they are having mortgage repayments difficulties should be allowed to stay in their homes. The banks should be finding ways to help them out of this situation.
“I know that there are many excellent groups, resource centres and voluntary organisations in Derry that have helped a large number of people avoid repossession, and the banks must and should do the same,” he said.