Results 6,841-6,860 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: Without citing institutions, could Mr. O'Connor give us some examples of the modelling of that problem?

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

Ciarán Lynch: Yes, and I am coming to that in my next question.

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

Ciarán Lynch: Mr. Duffy said a high percentage of these unsecured loans are between banks and not with credit unions or other institutions. They are held by the banks. Do we have a situation therefore where a bank at one side of the table tries to put a PIA in place, but a bank on the other side does not assist in that because of the unsecured aspect of the debt? And does the same happen at times where...

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

Ciarán Lynch: One of the things that needs to be said is that AIB has been very innovative and has acted commendably since we met with it last. It has introduced some very helpful measures for its distressed customers. One of the issues I broached previously, and it arises in discussion this afternoon, concerns the sustainability level being 20% above the insolvency guidelines. Bearing in mind...

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

Ciarán Lynch: Looking to the future, when I hear people talk about recovery in the property market, it frightens the life out of me. What we all want to see is a normalisation of the market. What I mean by this is that we want to see prudential lending practices that ensure we do not see a property bubble, massive house price inflation and that we see a realistic level of affordability in the property...

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

Ciarán Lynch: One final issue, the standard LTV applied is 92%. Now that we are seeing reactivation of the residential property market, have AIB staff in the sales division targets to achieve each year?

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

Ciarán Lynch: One concern that has been brought to my attention relates to the difficulty for people in coming up with a deposit at this time. There is massive price inflation in the rental sector and that is probably distorting the market. Rents are so far in excess of property values currently. This is creating a difficulty for people who wish to purchase and there is pent up demand in the area....

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

Ciarán Lynch: Is it possible to re-evaluate on a 92% LTV?

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

Ciarán Lynch: I thank Mr. Duffy for being so categorical on that.

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

Ciarán Lynch: Before Mr. Duffy replies, I am getting reports that there is a lot of background noise coming up, including phone noise in particular. I must ask members to turn off their phones. If they are using iPads, they should take them off a cellular signal because it is creating a lot of noise.

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

Ciarán Lynch: No, you will not because I got the distortion as well. I call Mr. Duffy.

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

Ciarán Lynch: The Deputy has two minutes left.

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

Ciarán Lynch: I call Deputy Humphreys who is sharing his time with Senator Hayden.

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

Ciarán Lynch: There have been instances where a partner has tried to transfer the ownership of the property on to the other partner as part of a separation legally and that has been completed, but the residual effect is that the partner still has ownership of the mortgage, even though that partner no longer owns the property.

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

Ciarán Lynch: This issue was dealt with by Deputy O'Donnell earlier.

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

Ciarán Lynch: One minute remains.

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

Ciarán Lynch: The issue of debt write-down is taking place inside AIB. Does the Irish Banking Federation, IBF, support that position or has have been discussions between AIB and the Irish Banking Federation in that regard?

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

Ciarán Lynch: Before Deputy Boyd Barrett comes in, with the committee's permission I must step out for a few minutes. Deputy Regina Doherty will cover for me for 15 minutes.

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

Ciarán Lynch: Agreed.

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

Ciarán Lynch: It is against Standing Orders to make a make a derogatory comment about any Member of the House, even if it is one's self. Will the Deputy proceed?