Tag Archives: AIB

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AIB launches €350m fund for new home constructions in Dublin, Cork and Galway

AIB has launched a €350 million fund to support the construction of new homes in Dublin, Cork and Galway. The bank said its New Homes Development Fund would help address the shortage of residential housing in urban areas and would be available to borrowers who could “demonstrate prior experience in residential development”. The bank said [...]

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123 families in mortgage arrears get deals with AIB

An initiative set up by the Irish Mortgage Holders Organisation (IMHO) and AIB Group three months ago to help distressed mortgage holders through third-party representation has resulted in the agreement of 123 long-term sustainable solutions so far, the two parties said this morning. The IMHO and AIB said that since the start of the initiative, [...]

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Consumer sentiment towards property on the rise, according to new index

Consumer sentiment towards the housing market has improved steadily, according to a Housing Market Index conducted by AIB and the ESRI. The index is a measure of consumer perceptions in relation to the Irish housing market as well as their house price expectations. The survey of over 800 consumers was conducted by the ESRI between [...]

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debt

Lenders given until June to put mortgage debt solution in place for 75% of those in arrears

The Central Bank has given the country’s main lenders until next June to put in place mortgage debt solutions for 75 per cent of customers more than 90 days in arrears. The new targets, agreed in conjunction with the EU-IMF troika, also stipulate the number level of “concluded solutions” on the banks’ books must reach [...]

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The new deal could free people from debt within three months

Almost one in five unable to meet full mortgage repayments

Almost 20 per cent of mortgage holders are still unable to meet their full mortgage repayments, and 81,156 are more than 90 days in arrears, according to recent figures from the Department of Finance. While Ireland’s six main banks upped their pace of permanent mortgage restructures in September, more than three-quarters of mortgages more than three [...]

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IMHO to provide new mortgage negotiation service

The Irish Mortgage Holders Organisation has announced it is to provide a new mortgage negotiation service for those struggling with loan repayments. The initiative will give those in arrears the option to avail of an independent, third-party facilitator to advise and engage with AIB, EBS or Haven on their behalf. The service will be available [...]

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New mortgage arrears data published

  A new set of figures on mortgage arrears from the Department of Finance show that the most popular method of restructuring loans in arrears is to extend the term of the mortgage. 35% of permanent mortgage restructures are term extensions, while 22% are interest only options. 6% of solutions are split mortgages. The new [...]

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bank-of-ireland

Bank of Ireland lowers interest rate on split mortgages

Bank of Ireland today said that it has lowered the interest rate for customers who have moved to split mortgages. Customers will now be charged 2.5% on the warehoused portion of the loan. During Oireachtas hearings last month, it emerged that the bank charged interest on the full mortgage amount, unlike other banks like Permanent [...]

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14,721 repossession letters sent out by country’s four main banks

The appearance before a Dail Committee of the four leaders of Ireland’s top banks has revealed that, between them, they have sent out a total of 14,721 repossession letters, according to figures from Sinn Fein’s Pearse Doherty. AIB chief executive David Duffy on Tuesday told the Oireachtas finance committee that the letters were sent to [...]

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AIB's David Duffy

AIB claims 4% of mortgage customers are strategically refusing to repay their mortgages

Allied Irish Banks has claimed 4% of its mortgage customers have decided not to repay the money. In an address to the Oireachtas Finance Committee, AIB chief executive David Duffy also claimed that 2,000 customers in arrears have cash deposits big enough to clear their debts. And on the investment side of its business, Mr [...]

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