Oireachtas Joint and Select Committees

Tuesday, 8 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process: (Resumed) Ulster Bank

2:50 pm

Mr. Stephen Bell:

There is an important distinction. There is voluntary surrender, which is where the customer decides he is leaving before the legal process concludes, and there is an assisted voluntary sale, where the customer takes the view that the best outcome for him is to sell the property and he seeks a discussion about what may happen to the residual debt.

I want to ensure I answer the Deputy's question correctly because they are two distinct issues.

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