Business Irish

Saturday 23 August 2014

AIB agrees 100 debt mortgage write-off deals, including €195,000 for one family

Published 19/03/2014 | 13:23

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AIB
AIB

STATE-owned AIB has agreed 100 deals with distress mortgage holders, new figures from the Irish Mortgage Holders Organisation show.

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The deal includes an agreement with one family for a €195,000 write-down on borrowing of €478,000 - they will remain in their home and service a mortgage of €200,000.

The balance of their borrowings will be warehoused.

According to the IMHO, it is now dealing with 2,000 AIB clients or its subsidiary EBS.

AIB, which would not comment on the figures today, recently announced details of its split mortgage product.

Write-downs between mortgage holders and banks are becoming more common.

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