Oireachtas Joint and Select Committees

Thursday, 13 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Ulster Bank

11:15 am

Mr. Stephen Bell:

It is a completely over-engineered bureaucratic disaster. We have done one, but we are working closely on what we call a mortgage-to-lease scheme, which we think might give the same outcome but with a lot fewer steps required to get from one to the other. We are working actively to come up with a similar solution, but the one that is in place now will simply never work.

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