Dáil Éireann Debate, Tuesday - 26 November 2013
170. Deputy Clare Daly asked the Minister for Finance if he will encourage AIB, PTSB and other State owned banks to be flexible in offering remortgage deals to Irish Bank Resolution Corporation mortgage holders. [50357/13]
View answerI understand that AIB and Permanent TSB are already engaging with Irish Bank Resolution Corporation mortgage holders who wish to move their mortgages. This is a welcome development and I would encourage both institutions to continue doing so where appropriate. AIB has informed me that it continues to engage with individual IBRC customers who wish to discuss moving their existing mortgage. Each case is assessed on its merits with primary focus on financial analysis and proving sustainable repayment capacity and is subject to AIB’s existing lending capacity and policy.
Permanent TSB has informed me that it is actively seeking applications from creditworthy borrowers across all segments of the market including customers who wish to switch their mortgages. Permanent TSB continues to consider applications for re-mortgage facilities from IBRC mortgage holders who meet Permanent TSB’s normal lending criteria. Permanent TSB has informed me that it offers a rate of 3.95% to customers with a loan-to-value ratio of less than 50% which may be of interest to customers of IBRC with a low loan-to-value ratio.
