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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