Results 9,681-9,700 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: Although the Senator is in a rush - I can bring her back in later - she must allow the witness to answer her question.

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

Ciarán Lynch: There is no point in asking a lot of questions if the witnesses cannot respond.

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

Ciarán Lynch: I can bring the Senator in again because this will continue.

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

Ciarán Lynch: I do not want the Deputy to go into the specifics of this. Will he approach this in general terms like how customer communications are developing?

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

Ciarán Lynch: No, I am not allowing the Deputy to continue in this specific way. I made it clear to Deputy Harris about approaching this from a general policy position.

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

Ciarán Lynch: I will give you back your time. I want to be very clear that I am not going to allow specific cases to be raised.

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

Ciarán Lynch: You were quite specific. Will you proceed on a more general basis?

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 Kieran O'Donnell, who I believe is sharing his time with Deputy Harris.

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 a couple of 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: On foot of the more prudential measures issued by the Central Bank in 2009 regarding loan-to-value, LTV, ratios, income ratios and stuff like that, has there been a significant change in the schedule of mortgages? Has it gone back from 35 years to 20 years or 25 years? What LTV does Permanent TSB apply on those loans?

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

Ciarán Lynch: What is the maximum LTV being allowed? Is it 92% or 95%?

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

Ciarán Lynch: Has the loan schedule reduced significantly?

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

Ciarán Lynch: I have one final question before bringing in Deputy Michael McGrath. Are targets now being given to bank staff with regard to reaching a certain number of mortgages to be issued for 2014? Has the staff of Permanent TSB been given targets in that area?

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

Ciarán Lynch: I wish to chase this issue, which I will be pursuing with all the banks. The concern is that one downside of seeing growth in home purchasing is that a bubble might be recreating itself again. In respect of loan-to-value ratios, is the LTV applied to the purchase price or the valuation? For example, were I to buy a house for €200,000 in the morning and were I to borrow...

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

Ciarán Lynch: While I accept there may be valuation difficulties arising in Dublin at present the bank's loan book is not exclusive to the Dublin area.

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

Ciarán Lynch: Why has the bank been unable to complete it in other districts?

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

Ciarán Lynch: This is €180,000 as current value and not purchase price.

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

Ciarán Lynch: I will move on to assisted voluntary sales. The bank has a proportionately high number of these, as it does for split mortgages. This seems to be out of kilter with what is done by some of the other banks with significant numbers of people involved. To verify the number Mr. O'Sullivan gave us, he stated approximately 1,300 people have been assisted in voluntary sales.

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

Ciarán Lynch: We raised this issue with Ulster Bank yesterday afternoon. After the disposal of the property this becomes unsecured debt. What is the bank doing with this unsecured debt?

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

Ciarán Lynch: Has Permanent TSB engaged in the write-down of debt in these circumstances to date?