Results 6,061-6,080 of 26,032 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: It is the total amount for both. I am looking at page 9 in one of the documents the witnesses gave us, which is the overview. Am I correct that the total number of home loans greater than 90 days is 24,990 and for buy-to-lets it is 11,650, which is a total of 36,640?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Am I correct that with home loans AIB has reached a 58% target and a 39% target individually in the buy-to-lets?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: The overall target AIB made is around 54%. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: It strikes me as strange that within the home loans, without the legal and other proceedings, AIB would be meeting a target of 31% which would be 7,753. Some 6,702 of the sustainable solutions are effectively legal and other proceedings. In the buy-to-lets, AIB is making only 17% of the target, while it is making 22% of the target on the legal side. In home loans, it is 31% outside the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Will I have to repeat my question, Chairman?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: The point I am making is that, for someone observing it, 50% of sustainable solutions being provided at the moment have involved legal proceedings. One would have to question whether the process is working.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Why is the process not working? Why is it down to meeting targets? Mr. Duffy is telling me that the only way he can meet the target - that is, 50% of them overall, between the home loans and the buy-to-lets - is by instigating legal proceedings. How has it come to that point?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: What has been the level of repossessions to date? How many repossessions are in the pipeline as we speak? I mean the total number of repossessions.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: How many repossessions are in the pipeline?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: When did AIB initiate those? What timescale or period are we looking at?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: When did AIB start instigating those 2,500 cases?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: So there are 2,500 cases waiting. Does Mr. O'Connor anticipate that they will end up in repossessions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Of those 2,500 cases, what is the breakdown between home loans and buy-to-lets?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: How many receivers has AIB appointed in the buy-to-let cases?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: In essence, therefore, Mr. O'Connor is saying that there are 1,200 cases. He is talking roughly about 30% of all the cases he has. In 20% of all buy-to-lets, AIB has appointed receivers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: No. Of the buy-to-lets, are the 1,000 receivers included in the proposed legal and other proceedings?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: I am looking at the percentages and there are currently 2,569 buy-to-lets in legal proceedings. How many of those are receivers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: With due respect, that is over 30%. It seems very high.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Correct. I will take the buy-to-lets first, which are straightforward enough. There are 2,569, some 800 of which are in receiverships. How many of those will end up being repossessed and how many will be sustainable solutions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Kieran O'Donnell: Where will the balance of 1,769 cases end up?