Mary Lou admits banks’ ‘fear’ over Sinn Féin’s housing policy – Cummins

Mary Lou McDonald has admitted to ‘fear’ harboured by Irish banks over one of Sinn Féin’s key housing policies, Fine Gael General Election candidate Senator John Cummins has said.

Senator John Cummins said:

“Mary Lou McDonald has finally admitted what many of us have long known; banks across the State are fearful of Sinn Féin’s reckless housing policy. It is good of Deputy McDonald to finally come clean on what the banks really make of her party’s plans to build private properties on land which homeowners will never own.

“After weeks of trying to convince the public that lending institutions have confidence in their housing plans, Mary Lou shared banks’ true concerns as she spoke of ‘their fear is if a home is sold and the State holds the land, how do they get their money back.’

“These banks are the very institutions the public rely on to provide the mortgages they need to purchase their homes. The lack of confidence from these institutions put the future of home ownership into jeopardy.

“Sinn Féin have as much strategic direction as a goose in a tumble dryer. They’re trying to sell their housing policies to the public while also admitting that these same policies have failed to secure the confidence of our financial institutions.

“Yet again, this provides neither clarity nor reassurance to members of the public looking to buy their first home.

“On the other hand, Fine Gael’s policies have seen hundreds of first-time buyers purchase new homes every week. These policies are possible because of the strong and stable economy we have worked hard to secure. Now is the time to plough on with this progress, not risk it all.”