Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

It is untrue to state the banks will not write off part of the money owed. They will do so but only on a case by case basis as opposed to a universal or across the line basis. People who are in difficulty should engage with their bank with the help of the best advice available or an insolvency practitioner. As I indicated, 121,000 mortgages have been restructured, of which 88% are standing up to the conditions. The test is that restructured mortgages must stand for at least 12 months before they are rated as successful restructuring. The Deputy could help out by bringing individual cases to lenders' attention. I understand banks are open to speaking to Deputies who are acting as intermediaries for borrowers.

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