Monday 20 October 2014

PTSB open to writing off Priory Hall debts

Published 06/09/2013 | 05:00

PRIORY Hall homeowners got a fresh boost after Permanent TSB became the latest bank to say it is open to writing off debt secured on homes in the blighted Dublin housing development.

Jeremy Masding, chief executive of Permanent TSB, yesterday echoed his counterpart at AIB in saying his bank will negotiate solutions with property owners "up to and including, debt writedown if the circumstance warrants it".

He made the comments to TDs and Senators at the Oireachtas Finance Committee yesterday.

Earlier in the week, AIB's David Duffy was the first bank chief to commit to helping families with homes at the complex move to a new home without being stuck with a Priory Hall mortgage.

HAZARD

All 300 residents were moved out of the north Dublin house and apartment complex after it was found to be a fire hazard two years ago.

Thirteen Permanent TSB customer mortgages are tied to properties at the complex.

Permanent TSB is understood to be open to agreeing deals for both homeowners and buy-to-let investors with property in the development. That is in contrast to AIB which said it will look to arrange deals for the 18 of its 27 customers whose family home is at Priory Hall.

Dublin Co Council has been covering the cost of housing 41 Priory Hall families since it was evacuated in 2011 but former residents are seeking a long term solution to their situation.

Taoiseach Enda Kenny has vowed to find a solution to the "complete injustice" at the complex.

Irish Independent

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