Donegal defective block banking and insurance lobby hails ‘extremely positive’ stakeholder convention
A lobby group focused on the banking and insurance implications of the defective blocks crisis has managed to convene key stakeholders to come together and jointly tackle some of the challenges facing affected homeowners.
The Banking and Insurance Focus Group has been actively engaged in discussions with the banking and insurance sectors, as well as the Central Bank of Ireland, for the past two years.
BIFG said homeowners continue to have a series of questions they want answered relating to mortgages, loans and insurance.
The group says a ‘well-functioning property market depends on banks, insurance companies, engineers, solicitors, and auctioneers working together to develop practical solutions’.
Now BIFG said a number of key stakeholders have agreed to sit down and jointly address concerns.
A spokesperson said: “Following extensive efforts by our Group, we are pleased to announce that key stakeholders, 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.
"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.”
The BIFG said the Department of Housing has been invited to participate in thee 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,” the spokesperson said.