Desjardins Group recently announced the cessation of financing for the purchase of houses in a 0-20 year flood zone, therefore areas with the highest flood risk. Thus, several Outaouais residents will be affected by this decision. Pontiac MP André Fortin says he is disappointed with the financial institution’s decision.
The Liberal MP says he is disappointed, but he does not place all the blame on the Desjardins Movement since, according to him, other financial institutions are turning to the same type of decision. However, he maintains that this decision will have consequences for citizens. Among other things, they will have difficulty selling and obtaining insurance at a reasonable price.
For its part, Mouvement Desjardins explains to us that “climate risks and changes are becoming more and more important. Desjardins Group wants to protect its members. For customers who already have a loan and want to sell their home, they will provide buyer financing up to 65%.” Now, André Fortin wants the provincial government to intervene and act in this matter.
The government cannot allow the situation as it is to continue. […] That there be a mechanism in place so that people who live in flood zones have an adequate level of protection, that they can have a mortgage, that they can be insured, that they can have the same protections as you , me, then anyone.
-André Fortin, Liberal MP for Pontiac
It is difficult to know how many residences are considered in zones 0-20 in Outaouais. Councilor Mike Duggan explains that analyzes on this subject have been commissioned to know the number of residences in flood zones, but that the ministry in charge has still not made the data accessible.
Furthermore, according to the advisor, there would have been other possible solutions before Mouvement Desjardins reached its decision. He even encourages people to continue their construction near a water point.
Pointe-Gatineau is one of the most affected by flood zones. Those who plan to build in flood zones, this is something I encourage, not to give up, but to adapt.
-Mike Duggan, Pointe-Gatineau municipal councilor
This is another added challenge for citizens who have experienced the historic floods of recent years.
2024-02-22 00:08:37
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