Oireachtas Joint and Select Committees

Wednesday, 30 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process (Resumed): Central Bank of Ireland

1:05 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour)
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We do not want a blanket scenario whereby interest-only arrangements will be put in place because such arrangements involve profits going to the banks without sustainable, long-term solutions being offered to customers whose mortgages are in distress. Professor Honohan is stating on the record that in some cases solutions can last into people's retirement.