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

3:30 pm

Mr. Stephen Bell:

One of the reasons that we commissioned the research on the cost of rental properties versus mortgages is because clearly having a home that one owns through a mortgage gives one more security of tenure than one could ever have living in a private rented property. Where a customer is a tenant of a buy-to-let customer, we only have part of the relationship; it is not our primary relationship with the customer but we would not seek to terminate the tenancy early when the underlying buy-to-let borrower was in distress with us. That is not our position.

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