| 13°C Dublin

AIB wipes clean mortgage debts

SOME mortgage debts have been wiped clean from the slate at Allied Irish Banks (AIB).

The bank said that debt forgiveness had taken place in a "handful" of cases where it has repossessed houses.

But AIB executive chairman David Hodgkinson (right) said it is investigating an industry-wide, long-term solution to reduce the debt burden for struggling borrowers.

"We are trying to keep people in their homes," he said.

"We'd like to see the Department of Finance's proposals on the matter [of mortgage relief] and for an industry-wide approach put in place."