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

3:00 pm

Mr. Jim Brown:

With regard to personal insolvency arrangements or, for that matter, any mortgage debt or unsecured debt, our view is that there is an affordable solution in the vast majority of cases where the customer adjusts his or her costs of living. We come to an arrangement on the unsecured debt and then put in place a solution with regard to how the mortgage is treated. Invariably, this does not involve writing down a mortgage.

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