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
12:00 pm
Stephen Donnelly (Wicklow, Independent) | Oireachtas source
Last week we met representatives from organisations that are trying to support borrowers in distress. When we asked them whether any of the four banks we met this week, AIB, Ulster Bank, Permanent-TSB and Bank of Ireland, stood out from the others in terms of playing hard ball or being tough on borrowers, they identified Bank of Ireland. I do not know what my committee colleagues think but based on the evidence I have heard thus far I can see why they said that.
The figures provided to the committee indicate that as of the end of last year, 5,321 legal proceedings had been commenced. What is the total number of legal proceedings commenced by the bank? The figure is based on the end of the year and applies only to mortgages that were in arrears at a particular time. There is a bigger figure, namely, the total number of legal proceedings by the end of the first quarter of 2014 across all mortgages. What is that figure?
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