Oireachtas Joint and Select Committees
Wednesday, 30 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland
12:40 pm
Pearse Doherty (Donegal South West, Sinn Fein)
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That is clear. It is important that the public know that as well, because other impressions have been given.
On the rent comparative to the mortgage repayments that would be made, we all will be aware of borrowers who have high mortgage repayments and need to pay them before they retire because the way the bank looks at it is that it has to be paid on or before retirement or it will repossess. Mr. Lehane stated that if the time is marginally beyond, he will not ask those living in the house to leave and rent property. Can he give any clear indication? Are we looking at maybe 10% or 15%? What is marginal? We are not holding Mr. Lehane to this, but I ask that he give us an indication of what is acceptable and what is not.