The only reason we have not seen more evictions in Ireland is because of the poor repossessions system, according to the Irish Mortgage Holders Association.

Members of the association appeared before the Housing and Homelessness committee earlier.

They expressed concern about how vulture funds are operating and the mental health pressures being put on mortgage holders by creditors.

David Hall, Director of the Irish Mortgage Holders Association, has said that we are lucky that there has not been more repossessions already.

“The Banks have actually propped up the system the last four years.

“The Banks have paid de-facto the rent allowance that should be paid by the local authorities, for these people that hasn’t yet hit.

“We have a cumbersome, slow, crap, thankfully system of repossession.

“That is the only grace that has saved this, is its dysfunctional system.”