Results 28,681-28,700 of 36,355 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: 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"?

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

Pearse Doherty: I presume the figures are for the period to the end of December 2013, rather than June 2013, the date that appears in the document.

Leaders' Questions (9 Apr 2014)

Pearse Doherty: I am one of the members of the committee who is putting pressure on the banks. I do not get up in the morning to come to the Houses of the Oireachtas in order to be misled or lied to by senior bankers, as is happening in committee room 4. I have just come from a meeting with representatives of Permanent TSB, whom I asked about the bank's split mortgage product. They said they do not charge...

Leaders' Questions (9 Apr 2014)

Pearse Doherty: The CEO of Bank of Ireland is paid an obscene salary from a bank that has only been saved because of the sacrifices of the Irish taxpayer. We know the total package is €843,000. Bank of Ireland exists only because it was bailed out by citizens of this State. The cost incurred by the taxpayer has been immense. Despite all the hardships endured by ordinary hard-working people across...

Leaders' Questions (9 Apr 2014)

Pearse Doherty: On foot of a freedom of information request to the Department of Finance, I received a copy of the advice given to the Minister in respect of last year's AGM. It was clear that his officials did not want him to vote for the remuneration package of the CEO of Bank of Ireland. They said it would be inappropriate given that he had not received responses on the Mercer report. The Taoiseach...