Oireachtas Joint and Select Committees

Tuesday, 8 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process: (Resumed) Ulster Bank

3:30 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour)
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Is there an expectation that when a property is repossessed -----

I dealt with situations in which the customer wanted a voluntary surrender, and in the case of a young woman with a child in a one bedroom apartment and now that the relationship has broken up she has a mortgage of €250,000 and the property is worth €80,000. She wanted to be rid of the property. In cases where the property goes into a voluntary repossession, is that now an unsecured debt?