Oireachtas Joint and Select Committees

Thursday, 24 November 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector in Ireland: Allied Irish Banks

9:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I will go to the final issue, namely, tracker mortgages but I do not believe we share the same concern. Given that we pumped €21 billion into the bank, I believe AIB should announce today to the committee that the 569 houses will be made available immediately to deal with the pressures experienced by people who are in emergency accommodation. The houses are lying vacant. It is not enough to make them available for the Housing Agency to buy, but that the bank would do the right thing, even if we did not pump €21 billion into the bank.

In terms of the 3,000 customers who are expected to receive redress from being moved off tracker mortgages, is that number still accurate and is the provision which has been spoken about of €105 million still relevant? Could the witnesses inform the committee from their trawl of tracker mortgages how many have been moved off them or have not been allowed to go back on them? Has AIB assessed how many people have lost their home as a result of them not having a tracker mortgage?

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