Results 7,721-7,740 of 36,188 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: None at all?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)
Pearse Doherty: Mr. Mason has no estimate whatsoever?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)
Pearse Doherty: Would the bank expect to repossess at least 10% of those? Would it be normal to expect that?
- 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: So, the answer is "Yes". Can Mr. Boucher also confirm that the 15 directors of his banks have seen a collective increase in their remuneration since last year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)
Pearse Doherty: No, but the amount of money the bank pays its staff has reduced by €80 million, 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: That is because the bank let 2,000 people go.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)
Pearse Doherty: Nevertheless, the directors have seen an increase of €207,000 combined in the past year. 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: Yes, but the combined amount being paid to the directors has increased. Mr. Boucher has received an increase in his salary in the past two years. Is that correct?