Seán Fleming (Laois-Offaly, Fianna Fail)
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Question 70: To ask the Minister for Finance when he expects financial institutions to implement the recommendation for a deferred interest scheme in the final report of the expert group on mortgage arrears and personal debt. [14159/11]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank has advised me that the following lenders have notified the Bank of their intention to implement the recommendation of a Deferred Interest Scheme (DIS), as set out in the final report of the Expert Group on Mortgage Arrears and Personal Debt: - Allied Irish Banks - AIB Mortgage Bank - Bank of Ireland - ICS Building Society - EBS - Haven Mortgages - Irish Nationwide Building Society - Permanent TSB - Springboard Mortgages - Start Mortgages

The date on which lenders will be in a position to offer a DIS to borrowers varies. Some institutions expect to be in a position to offer the scheme by the middle of 2011. I have asked the Central Bank to ascertain the up-to-date position with regard to each lender and I will provide this information to the Deputy when it is made available to me.

It is important to note that the DIS is a voluntary scheme, and as such all lenders do not have to sign up to it.