Results 11,701-11,720 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: That is the current picture. I do not think any of us can begin to understand the trauma involved for people in losing their homes. How can that be put right? What is the bank's objective? What is it doing for those people, apart from giving them cheques for €50,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: Does Ulster Bank still own some of those properties?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: Were the other 15 court repossessions, voluntary sales or voluntary surrenders? How did they come back into the possession of Ulster Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: The word "voluntary" is a complete misnomer in this context. If somebody voluntarily sells his or her home or voluntarily surrenders his or her home, it is with a gun to his or her head. It is to avoid going to court.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: Yes. Is the objective that these individuals and families will get another home?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: Will the one property the bank has be given back?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: On Ulster Bank's overall numbers, 3,500 customers have been identified as being impacted upon. Of those, 2,500 are still customers of the bank with active mortgage accounts. Redress and compensation have been paid to 1,200. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: I imagine that is 1,200 of the 2,500. It is 1,200 of the bank's existing customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: When will everyone be fully repaid?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: The end of June?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: Will that be achieved?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: Thus far, statements that have been made and pledges that have been given have not been honoured. Going back over the timeline of what was said here and what was said publicly, I think Ulster Bank is further behind in this process than any other main lender.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: The aim then is 3,500 by the end of June. I received more emails and correspondence from Ulster Bank customers in the past week or so than I have from customers of other banks. I am sure other committee members are the same. They are all telling us their own stories. They are very frustrated; they are getting the pro formastandard letter rolled off the computer every 60 days. It is...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: I do not detect any confidence that Ulster Bank have gotten to the bottom of this and that 3,500 is the final number. I do not get that sense.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: Are there cohorts or groups of customers not currently included in respect of which the bank is in some dispute or engagement with the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: The Central Bank may have a different view or different interpretation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: It sounds like there are potentially other groups that Ulster Bank may conclude should be included?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: In what state are Ulster Bank's information technology systems? From reading Mr. Stanley's submission and looking at the history, I know the bank has had some unfortunate information technology glitches in recent years. It seems the bank's systems are in a bit of a mess.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: As of now, systems are not the problem or the reason the process is taking so long.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Michael McGrath: That was an issue but it is being dealt with now.