Dáil Éireann Debate, Thursday - 18 July 2013
162. Deputy Michael McGrath asked the Minister for Finance for each of the State-supported banks, the number of split mortgage arrangements that have been offered to mortgage holders to date in 2013; the number of such arrangements that have been entered into; and if he will make a statement on the matter. [36670/13]
View answerI can inform the Deputy that the State supported banks have provided me with the following information in relation to their split mortgage offerings.
AIB
I have been informed by AIB that split mortgage arrangements are one of the options in AIB’s advanced forbearance solutions. All disclosures in relation to forbearance are available on pages 101-103 of AIB’s 2012 Annual Financial Report. AIB has informed me that this information will be updated on 1st August when AIB announces its 2013 interim results.
BOI
I have been informed by Bank of Ireland that it is currently in a closed period, as it prepares for publication of its Interim Results to June 2013 on 2 August 2013. The Bank will update the market generally on progress of its Mortgage Arrears strategy on the occasion of publication of the half-year results.
PTSB
I have been informed by Permanent TSB that it has offered c. 1,500 split mortgages to date in 2013, of which c. 1,000 have been accepted. Permanent TSB has advised me that the significant majority of these offers are subject to the satisfactory establishment of a repayment record over a six month period. Upon satisfactory completion of this term the offer is confirmed.
