The Central Bank has provided me with the following information in relation to the warehousing of a portion of debt associated with split mortgages.
"The Central Bank publishes Mortgage Arrears Data detailing quarterly developments in the number and value of mortgages in arrears, restructured mortgages, repossessed properties, for principal residences and buy-to-let properties. The reporting population includes credit institutions, non-credit institutions and non-resident mortgage providers.
The corresponding values of the sum of permanent and temporary split mortgages, as restructure types is €2.7 billion for PDH, and €273 million for BTL.
The Central Bank of Ireland is providing input into the ECB’s review of warehoused debt but this process has yet to be completed. The output from this process will be communicated to the relevant institutions through the regular supervisory channels."
In response to the Deputy's question, AIB have advised me of the following:
"The value of warehouse debt for split mortgages is not disclosed in the Bank’s Annual Financial Accounts.
AIB supports co-operating customers and provides sustainable solutions based on customers affordability. The warehouse/secondary facility facilitates the provision of a restructured solution which is aligned to the customers affordability. Repayment is dependent on the customers performance on the restructured loan and is reviewed on a case by case basis."
In response to the Deputy's question, PTSB have advised me of the following:
"Permanent TSB has approximately 6,500 active split mortgage loans. There are 6,137 Home Loans with warehouse balances of €593m and 388 Buy-to-Let Loans with warehouse balances of €44m.
Permanent TSB’s approach to this warehouse debt is in accordance with CCMA and its agreement with these customers to engage with them on a regular review cycle such that as the customer’s circumstances improve, the debt is transferred from the warehouse to the live mortgage in order that the loan is repaid at end of the mortgage term."