Results 13,761-13,780 of 26,037 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: My first question is a practical one. The normal bank requirement under the Central Bank rules is a minimum 10% of deposit for a home owner. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: There are exceptions. The bank is entitled to have exceptions.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: Would the exceptions happen throughout the year or would they be made at the start of the year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: We are coming across many first-time buyers who are finding it very difficult to put the deposit together because, invariably, they are living in rental accommodation and paying anything from €800 to €1,200 per month in rent. I am framing the question in the context of the exceptions. Consider the case of someone who is renting consistently and meets the requirements beyond...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: The mortgage repayment would be less than what is paid in rent.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: I refer to where the mortgage repayment is less than the rent but where one shows a capacity to save.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: On what percentage of the bank’s loan book can an exception be made? What is the ratio?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: What is it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: It was willing to allow a situation whereby, on top of the exceptions, it might give another 20% where a consistent savings pattern is demonstrated and the mortgage repayment is less than the monthly rent.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: Does the witness believe it is possible to have another property crash in Ireland, be it residential or commercial?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: Does Mr. Mallon believe there is an undersupply of housing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: May I proceed to question 13 in the booklet?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: I refer to pages 30 and 31 of the booklet that was handed out. The question is purely related to sales to vulture funds. We are getting a lot of feedback from individuals whose loans have now ended up with the various entities, Cerberus being the most high profile. I have a few housekeeping questions first. The loans sold on between 2014 and 2016 total approximately €13.7 billion....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: Therefore, approximately €12 billion of the €13.7 is related to the Republic of Ireland. It is a Republic of Ireland sale in the main. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: Is there a breakdown? Issues arise regarding the sale of the SME sector loans. The farming sector is coming up quite a lot. What is now materialising, based on what we are hearing on the ground, is that entities like Cerberus are now getting to a point where they are seeking to deal with these loans. Of the €12 billion, do we know the breakdown between commercial real estate,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: Was the GRG loan book sold on to-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: All the other sales, involving Aran, the €6.1 billion to Cerberus, Apollo, the €1.5 billion, Deutsche Bank, and the €800 million to Cerberus in July 2015, came from the GRG book.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: How much of the €2.5 billion would have come from the GRG book and how much would have come from-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: How much of the €12 billion relates to residential mortgages and how much relates to the SME sector?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Kieran O'Donnell: There are 900 residential mortgages. What level relates to the SME sector?