Results 2,441-2,460 of 5,587 for speaker:Kevin Humphreys

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Kevin Humphreys: Has Mr. O'Connor an idea of the number of buy-to-let properties that are in arrears that are generating an income?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Kevin Humphreys: I represent a Dublin constituency and the biggest problem is affordability because rents are increasing at quite a pace. The delegates gave figures to Deputy Pearse Doherty earlier in this respect. In respect of the number of buy-to-let properties that the bank is putting into receivership to regain funds, has the bank put in place a code of practice on how the tenant in the buy-to-let...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Kevin Humphreys: Mr. O'Connor believes that what he is saying is true but the practice on the ground is very different, especially in areas where rents have increased quite substantially in that there is an effort to push the current tenant out of the property because the new tenant will pay a higher rent.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Kevin Humphreys: That is what I am hearing on the ground. A protection is very much being built in for people who have mortgages and buy-to-let properties. However, for those on the coalface who are renting buy-to-let properties, I am finding their experience to be very different and especially those who are tenants in receipt of rent allowance. In the vast majority of such cases, when a property changes...

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

Kevin Humphreys: No. It would be remiss of me not to refer to the College Green branch of Bank of Ireland as I have raised it with Mr. Boucher several times. I welcome the initiative that is taking place in opening it to the public. One hopes that can be built on. I acknowledge there was some movement. It is to be hoped we can work on it. Can Mr. Mason take the committee through assisted voluntary...

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

Kevin Humphreys: We have heard about problems regarding mortgage-to-rent, but if the property is suitable, how long does the bank wait for the procedure to go through? Is it eight or ten months? What is the average?

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

Kevin Humphreys: Can we put figures on it? For example, if I have a mortgage for €200,000, mortgage-to-rent is not a viable option and the property is worth €150,000, when does the bank enter into an agreement with me on the residual debt of €50,000?

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

Kevin Humphreys: Over what period?

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

Kevin Humphreys: Could it be over decades?

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

Kevin Humphreys: Do the witnesses not consider from their experience that to assist a voluntary sale actually weakens their position and that the customer would be better off to go down the bankruptcy road?

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

Kevin Humphreys: From what has been explained to me in the earlier evidence of the witnesses, if someone came to me who was dealing with the Bank of Ireland and he or she was in that situation, I would recommend bankruptcy. He or she is not getting a fair deal, as things have been explained. We have had other people in before from AIB and Ulster Bank to explain their procedures. The Bank of Ireland's...

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

Kevin Humphreys: I am looking at this from the taxpayers' perspective.

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

Kevin Humphreys: There are many reasons. We can go into that. The Bank of Ireland was very late to the party in terms of the reckless lending that went on. Deputy Pearse Doherty mentioned the position the bank was in at that stage. Can Mr. Boucher go through his understanding of the interbank protocol on arrears where there is a deal done on a mortgage? If the Bank of Ireland has an unsustainable...

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

Kevin Humphreys: The practice is that unsecured debt is written off to make the mortgage viable.

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

Kevin Humphreys: How much unsecured debt has Bank of Ireland written off with reference to the viability of mortgages?

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

Kevin Humphreys: Every bank and institution has told the committee that there are difficulties with mortgage-to-rent. They have said there are too many players. How many players does the bank have to deal with in a typical mortgage-to-rent scenario?

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

Kevin Humphreys: Would Mr. McLoughlin have recommendations about how this could work better for the individual and institution?

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

Kevin Humphreys: Are the approved housing agency, the local authority and the bank the three players?

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

Kevin Humphreys: So there needs to be a template or protocol relating to that within the local authority that would be very clear from the beginning?

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

Kevin Humphreys: When a mortgage is written off, does that not keep pushing people into bankruptcy? If a solution is proposed, the bank uses its veto because it is a write off on the mortgage. If the bank keeps using its veto in the manner in which it says it is going to use it because it says it does not do write offs on mortgage, does it accept that the only solution is bankruptcy?