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

3:10 pm

Mr. Stephen Bell:

The mortgage arrears target regime is very clear on what counts towards the target. A combination of long-term sustainable arrangements - we have shared the number of such arrangements with the committee - and legal proceedings is permissible in this context. It is not the case that we have relied on legal proceedings to achieve our numbers. It is an inevitable consequence of the way the target regime is designed that it will have an element of legal proceedings within it.

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