Oireachtas Joint and Select Committees

Wednesday, 12 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Permanent TSB

3:55 pm

Photo of Arthur SpringArthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source

I would like to get into this in detail, but the Chairman is indicating that I must move along. A huge number of people are still in mortgage arrears. Last week we established how AIB is conducting itself. What is Permanent TSB's policy on people who unfortunately have had to sell their homes and are no longer in a position to sustain their loans? Anyone in this position is having a very difficult time. On Monday and Tuesday I was with people who deal with people with disabilities trying to get back into the workforce. They said the largest difference they have seen over the past ten years is that in the past five years a significant number of people, predominantly self-employed, have had mental trauma to the point where they have lost their confidence. Some people have had breakdowns and some people have needed assistance. Some people have lost their homes. It is something Irish society has never before seen. How does Permanent TSB treat these people after the sale of the house?

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