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
2:15 pm
Mr. Brendan O'Connor:
The split is offered to the end of the term. Under the arrangement and to the extent that a person's circumstances improve, we incentivise him or her within the split to pay off the warehouse loan. We have incentives built in; that makes sense on the basis of the net current value, but we do not visit the borrower every three or five years and take his or her income.
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