No help for those ‘who won’t pay debts’

As a Dublin couple with an extensive property portfolio evicted from their upmarket home continue their protest, Finance Minister Michael Noonan has said the Government has “ no pledge to keep people in 21 different homes and we must distinguish between people who can’t pay and those who won’t pay”.

The minister’s rebuke came as it emerged that Brendan and Asta Kelly own at least 20 rental properties, mostly in Dublin.

The Kellys spent a fourth night outside their property at St Matthias Woods, Killiney, last night.

While Mr Kelly told RTÉ radio he was protesting not just on behalf of himself and his wife but “also on behalf of all the people of Ireland”, Mr Noonan said there needed to be a distinction between those who cannot pay mortgage debt and those who will not.

Referring to the fact that the Kellys are known to own 21 properties — mostly apartments in the south Dublin area that are rented out — the minister said the Government was keen to keep as many people as possible in their homes, but added: “We have no pledge to keep people in 21 different homes and we must distinguish between people who can’t pay and those who won’t pay.”

Mr Noonan said systems in place to keep struggling householders in their homes had been well thought through.

He warned that the Government was not in the business of rescuing professional landlords who refused to pay debt.

“I think it’s been well designed. The Government has pledged, insofar as possible, to keep people in their own homes,” he said.

“For those who can’t pay, we have a series of policies so that the banks will deal with [debtors] on a case-by-case basis to relieve the burden.”

Asked if the eviction of the Kellys was the right way to deal with the issue, he said: “It’s a matter for the people who did it, it was not a government decision.”

Property records show both Mr Kelly and his wife had a portfolio of 21 properties in some of the most affluent areas of south Dublin, such as Ballsbridge, Donnybrook, and Beggars Bush.

Mr Kelly, a qualified accountant, and his wife bought the Killiney house in 2002. They took out a mortgage with the failed Irish Nationwide building society which is now part of the Irish Bank Resolution Corporation.

Mr Kelly said he believed they may have gone into arrears in 2009 but could not be certain. Nor could he confirm exactly when the bank served the repossession order. He told the Press Association it may have been in the middle of 2010.

The home was valued at €3.75m when Mr Kelly, then aged 61, bought it with the help of a €2m mortgage. It is now on the market with an asking price of €2.2m.

The couple have also criticised the IBRC, which took over both Anglo Irish Bank and Irish Nationwide.

The IBRC would not comment yesterday, while the Kellys were not available either for comment.