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

1:45 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

This is where the nub of the issue may be. In a situation where rents are rising and where property values are rising, a receiver seeking the best value for the bank may well decide that the person is only paying €1,100 and the receiver can get €1,500, so it is better value for the bank to kick the person out and get in new tenants who can pay more. The people who will be the victim of that are the people on the lower incomes. This is contributing in the wider context to quite a significant degree of homelessness. I would like to hear from the witnesses that this is not the sort of mercenary attitude that will be employed in situations involving AIB.

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