Results 28,461-28,480 of 36,187 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Okay. As regards voluntary surrender, 545 people in family homes have given up their houses as a result of the bank requesting them to do so. As I said yesterday, many of them do so through fear that the bank will bring them before a judge and jury to have their houses repossessed. Mr. Mason has told us that he is not writing off any of the residual debt. What steps, if any, has the bank...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: I would say many of those would not believe that the bank is very sympathetic at that level. Many people who have spoken to me do not believe there is much sympathy within the institution. We see that right from CEO level down to senior management. Would Mr. Mason have heard comments from customers that there is an absence or lack of sympathy in the institution?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: As regards residual debt, a thread running through the committee hearings is that the mortgage to rent scheme is simply not working. If a customer were deemed by the bank to be suitable for mortgage to rent, they would therefore surrender their home which would be sold to the housing agency. If there was €100,000 of residual debt, the customer remains in their home but would pay a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: There is no write-off on mortgage to rent either.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: The mortgage to rent scheme is supposed to involve coming to an arrangement with one's bank, but the only arrangement the bank has is that it wants all of the money back on a mortgage to rent scheme.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Does Mr. Mason think that is fair?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: The bank has announced a new product whereby it will refund 1% of stamp duty for first-time buyers who buy before the end of September. So if somebody comes to the bank seeking a mortgage of €200,000, the bank will refund them €2,000, is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Therefore that person must be deemed by the bank to be able to afford the €200,000 mortgage in the first place.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Does Mr. McLoughlin believe that it is right, proper and fair to give them €2,000 in those circumstances?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: The bank believes it is fair to pay €2,000 to those who can afford a €200,000 mortgage. Bank of Ireland sees that as fair, right and proper for those who can afford such a loan. Let us look at the person whose family home has been repossessed. The bank has put them and their family out of their house and the residual debt is €200,000. The bank has deemed that they...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Are you?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Mr. Boucher is handing out a cheque to somebody he deems can afford a €200,000 mortgage, while at the same time screwing the person he has turfed out of their house for €200,000 of residual debt that his bank deems they cannot pay. That is not fair in my book. I have two minutes left and I want to focus on Mr. Boucher's own remuneration. He knows that the Government will...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Cuirim fáilte roimh an toscaireacht. We are probably at odds over its version of what happened to its bank consequent to the action of the Government. The delegates claimed the recapitalisation moneys were an investment. It was not a voluntary investment by the State; the bank would not have existed without it. It was bust and came knocking at the State’s door for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: It does. In how many cases was this done in the past year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Would there have been thousands of cases?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Does Bank of Ireland not write off voluntarily any other type of debt associated with mortgages for anybody outside the legal process?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: With regard to the legal process, how many bankruptcies were Bank of Ireland customers involved in over the past year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Would it be in the region of ten or fewer?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: It was mentioned that 22 proposals from the PIPs involved Bank of Ireland. The delegates then stated 11 were voted on and that a further four were then voted on. Can the delegates explain those three figures again?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: What does Mr. Mason mean by saying the bank was involved in four of the 11? It is 11 of the 70, not 11 of the 22.