Oireachtas Joint and Select Committees

Wednesday, 9 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB

11:00 am

Mr. Shane O'Sullivan:

That is a factor. The typical repossession process takes three or four years. We have initiated the cases mentioned in the figures presented here, but some people will engage to find a solution. I suspect that at the end of this year, the number of repossessions for the year will be higher than the 60 we had last year, but the figure will be in hundreds rather than thousands.

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