Results 21,861-21,880 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: The bank has two appeals committees, is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: Is it correct that the complaints are mainly handled in Belfast? The customer in the case I mentioned said that they have to contact Belfast, and it is not satisfactory. They might ring there and get an answering machine and no reply. There is no unit in Dublin for people who have been impacted in this part of the country. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: Are they? All of them?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: But the vast majority of complaints must deal with the bank in Belfast?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: It is very frustrating for those people to have to go to a help desk in Belfast equipped with answering machines. Can Mr. Stanley bring a message to the bank that if the customers contact it, the bank should contact the customer back in a timely manner.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: What will happen to the 200 staff in the bank when all this is over? Will they be laid off or redeployed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: What will be different in how the bank operates in the future? How can we guarantee that the same thing does not happen again?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: The level of compensation is between 12% and 20%. Who has final agreement on its make-up? Does the Central Bank, with Ulster Bank, set targets for different clients? How does that operate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: What about non-performing loans? Some tracker loans could be non-performing. How are they dealt with if there is no hope for some of them? A vice president of the European Commission, Commissioner Valdis Dombrovskis, gave evidence to the committee this morning that it is advocating write-downs to the banks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: There are non-performing tracker loans. The Commissioner advocated write-downs.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: Mr. Stanley is saying it will not come into the equation in regard to trackers. There will be no write-downs in that regard.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: The loans could be still non-performing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Paddy Burke: But Mr. Stanley is saying that, allowing for what the Commissioner said here this morning, there may be no individual write-down.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: I welcome Mr. Masding and his staff. As the bank has sold off many mortgages, does everybody know whether his or her mortgage has been sold?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: The customers would know if the loan was still with Permanent TSB or a vulture fund.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: In this case, all the impacted people have been written to by the bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: How does it work? The bank has sold some houses.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: I presume the houses were sold as well. The property has been sold.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: Some people have lost their homes. Their mortgage would have been sold to some vulture fund.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: In cases where people lost their homes-----