Families warned of impending wave of repossessions

An impending wave of repossessions is threatening to turf families struggling to cope with mortgage arrears out of their homes, Fianna Fáil has warned.

Party leader Micheál Martin called on ministers to make a U-turn on new regulations and allow distressed householders to keep a year’s grace to sort themselves out.

Taoiseach Enda Kenny hit back, insisting that repossession was the final option, but a reform of the rules was needed to create “sustainable” solutions to the debt crisis, adding that Fianna Fáil had done nothing to ease the situation when in power.