Dáil Éireann Debate, Thursday - 18 July 2013
163. Deputy Michael McGrath asked the Minister for Finance for each of the State-supported banks, the number of principal dwelling house mortgages and buy-to-let mortgages in respect of which the bank sought full repayment of the loan from the borrower but has not yet initiated legal proceedings for repossession; and if he will make a statement on the matter. [36671/13]
View answerI have received the following information from the State supported banks in answer to your query:
AIB
AIB has informed me that the bank only initiates a legal solution, which may ultimately lead to the bank taking possession of a property, when a customer in difficulty is not cooperating with the bank or making a genuine effort to engage or resolve arrears on the mortgage account. It is generally not the Bank’s practice to demand full repayment of a mortgage in arrears prior to the bank initiating steps which may ultimately lead to the bank taking possession of the property. The Bank’s focus is on providing sustainable solutions to mortgage customers that will allow them to exit from arrears.
Bank of Ireland
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 sought full repayment of the loan on 1,119 principal dwelling house and 11 buy-to-let mortgage accounts but has not yet initiated legal proceedings for repossession on them.
