Saturday 27 May 2017

Ulster Bank offers debt write-off deal to 2,000 customers

Number of Irish mortgage in arrears showing sustained decline: Fitch

The headquarters of Ulster Bank on Dublin's quays
The headquarters of Ulster Bank on Dublin's quays

Independent.ie reporters

ULSTER Bank is to offer a debt write-off deals to 2,000 customers already in arrears with mortgage repayments.

The offer applies to those eligible for social housing and who have not engaged with the bank in relation to repayments and are already facing repossession.

The bank will also consider a debt write-off deal for other mortgage holders who do not qualify for social housing but it is understood this approach will be on a case-by-case basis.

The  bank is writing to customers today outlining plans for those eligible for the deal if they sell their homes.

Chief Risk Officer, Stephen Bell said: “Ulster Bank’s primary objective has always been to help our customers in difficulty come to a fair, affordable solution which allows them to remain in their homes and the communities which they have chosen.

"We firmly believe that through engagement, a solution can be found for the vast majority of customers who are in arrears and we are trying to encourage this in every way we can."

 

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