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

11:40 am

Mr. Stephen Mason:

After the property has been sold, we will talk to the customer about their circumstances. We will go through a similar process to the process we go through to determine whether we can make a sustainable mortgage out of it, taking into account a reasonable standard of living and household income. If there is any surplus income above the reasonable standard of living, we will ask the customer to pay that towards the residual balance.

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