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
4:10 pm
Mr. Jim Brown:
It is difficult to imagine a case where we would have to write down the secured debt. I am not avoiding the question, but where the average borrower is paying €1 on his or her mortgage and 60 cent on unsecured debt, the solution in our view is to write down the unsecured debt and restructure the loan.