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

3:20 pm

Mr. Stephen Bell:

I do not want to detract from a straight answer but there is a waterfall arrangement we agreed with the other banks. We are initially looking at changing the interest rate and term to be applied. If after having done that, there is still no affordability, we would take those steps.

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