The scheme for addressing the problem of defective blocks in homes now stands at €2.7 billion, the Minister for Finance has told the Dáil.

Michael McGrath said he would soon meet with homeowners to see how practical insurance and mortgages issues can be dealt with.

He said that everyone will have to work together to resolve insurance and mortgage issues facing homeowners

Donegal TD Thomas Pringle called on the banks to fund any gaps in the costs homeowners are facing.

Earlier this year, Minister for Housing Darragh O'Brien said the cost of the scheme could run to €2.5 billion and will cover 100% of costs.

He said fire safety is the biggest issue followed by water ingress problems in these properties.

"We would expect some payments to be made this year but more next year as the scheme is stood up," Minister O'Brien said in January.

The measure is set to cover buildings which were constructed between 1991 and 2013.