Tuesday 23 January 2018

Debt deal watchdog to curb bank veto

The Government is close to finalising plans for a new watchdog which will limit the ability of banks to veto personal insolvency deals
The Government is close to finalising plans for a new watchdog which will limit the ability of banks to veto personal insolvency deals
Tánaiste Joan Burton

Niall O'Connor and Sarah McCabe

The Government is close to finalising plans for a new watchdog which will limit the ability of banks to veto personal insolvency deals.

The watchdog body is due to be unveiled after Easter as part of the Government's plans to resolve the mortgage crisis.

Cabinet ministers are adamant that deals with stricken householders are being unnecessarily vetoed by some of the mainstream banks.

Senior government figures , including the Taoiseach, have been briefed in detail on a number of cases whereby banks have abandoned negotiations.

Meanwhile, asking prices for houses outside of Dublin rose twice as fast as those in the capital over the first three months of the year, according to a new study.

Prices outside Dublin jumped by 6pc between January and March, Daft's latest house price report found. Dublin, where price growth outpaced the rest of the country for several years, grew by just 3pc. Munster experienced its largest three-month increase since 2007.

Irish Independent

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