Oireachtas Joint and Select Committees

Thursday, 10 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland

11:00 am

Mr. Richie Boucher:

We have a very substantial business in Britain and our experience in Britain was that the process took quite a while for it to gain momentum. One of the key aspects was to establish protocols between various creditor parties, etc., and that enabled the process to speed up. We anticipate the momentum will pick up quite significantly. I cannot say it is exactly the same as what happened in the United Kingdom, but that was our experience in the United Kingdom.

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