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

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

In the case of an owner-occupier, when there is what the bank calls a voluntary agreement to sell, then the property is sold at the current market rate. Why then does the bank adopt the arrogant stance of not looking at a general write-down to today's value when in fact that is what happens in individual cases? Can the bank not be part of a general national solution with other banks to try to sort out the mess once and for all?

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