Results 28,281-28,300 of 35,959 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: In that case I will have to withdraw the only positive comment I had to make.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: Are the witnesses suggesting that the 10,000 of their customers in family homes, who have not been offered a solution, need to engage? Are those customers not engaging with the bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: Mr. Duffy has spoken to the committee about the lack of trust in financial institutions because of the wreckage they caused, and the need to have a third party, the Irish Mortgage Holders Organisation, IMHO, assist the bank in encouraging people to engage. It has been suggested to the committee that the engagement is nothing more than handing the paperwork to the bank. Can Mr. Duffy...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: The witnesses have shown us figures to the effect that 54% of their customers in arrears for 90 days or more have received proposals. The majority are either voluntary surrender or involved in a legal process. I welcome the witnesses’ frankness in giving us estimates of percentages and so on. Of those proposals, what percentage has been accepted?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: The bank has a major challenge to reach the accepted targets of the Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: Six months ago 326 individuals surrendered their family homes to AIB. Assisted voluntary sale is a great phrase but when one talks to people they are scared stiff because they know the only option is for the bank to take them to the High Court. Rather than appear before a judge and have the bank take their house, they go into the assisted voluntary sale in the hope that they will get a bit...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: Mr. O’Connor said debt is written off for approximately 60% of these people, which would be approximately 900. He also said debt has been written off for between approximately 600 and 700 of the people with split mortgage proposals. I know he does not have the quantum of debt that is written off but if I were to avail of a split mortgage, on average, what type of percentage would...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: AIB has a longer legal queue than the other banks. As I understand it, to get out of the legal queue someone in arrears has to pay a percentage of those arrears. Is that the case? Could it be up to 25% or 50% of the arrears if the person wants to come out of the legal position the bank has put them in?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: Does Mr. O’Connor not see that as a disincentive to come out of the legal queue? If someone has €10,000 in arrears and the bank asks the person to pay 50%, it is basically charging the person to come out and do another deal with it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: My first question is on the split mortgage product. We had Permanent TSB in here before this group. It told us, following my questioning, that interest is not accumulated on the warehouse portion of its split mortgage on domestic homes, family homes or principal dwelling homes or on buy-to-lets. Its statement was blatantly false and I have the documentation that proves that it charges in...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: Does the same apply to principal dwelling homes?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: For somebody who is in financial difficulty and in arrears, who goes to the bank there is a tiered structure to deal with them and it can advise what type of product or solution is the best option for them. The bank inputs their data and at that stage it can become clear that a split mortgage is the most desirable outcome for them. When the bank is at that stage and then looks at the value...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: Will the bank provide a split mortgage when a property is in positive equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: That is fine. I wish to comment on the overall progress in dealing with the mortgage crisis but first I shall correct my earlier intervention. The delegation is correct that the figures were for quarter 4. I had looked at the previous quarter 2 figures and comparable figures so I extend my apologies. With regard to overall picture, the number of people who have been in mortgage arrears...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: We expect that the bank has an early intervention policy as well. The figures are directly comparable. While they may not be the same people, we have seen a dramatic increase in the mortgage arrears crisis experienced by the bank's customers in the past six months.
- Order of Business (9 Apr 2014)
Pearse Doherty: Yesterday, the terms of reference for the commission of investigation into the recording of telephone calls in Garda stations were released and I am interested to know when they will be debated in the House for its approval. In the context of that debate, can the Minister for Finance confirm whether there is a system in place in any other Department or State agency, particularly the Revenue...
- Order of Business (9 Apr 2014)
Pearse Doherty: My question was not about the GP legislation the Government is introducing but specifically No. 115, an amendment to the Competition Act.
- Order of Business (9 Apr 2014)
Pearse Doherty: No, it is a separate issue, allowing for collective bargaining.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: On a point of order, the presentation refers repeatedly to June 2013 and quarter 2 targets. The joint committee is dealing with the quarter 4 targets. Is this a typographical error or does the presentation relate to quarter 2 targets?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)
Pearse Doherty: In that case, should all references to "quarter 2" read as "quarter 4"?