Tag Archives: AIB

mortgagedebt

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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mortgagedebt

13% of mortgage holders now in arrears

Almost 100,000 mortgage holders are now over three months behind on their repayments. New figures from the Central Bank show that almost 13% of all residential mortgages are behind on repayments. The figures released for the three months up to June show 98,000 residential mortgage holders are now three months or more in arrears. That’s [...]

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AIB now offering negative equity mortgages

AIB are now offering Negative Equity Trade Up Mortgages to customers who want to buy a new home of a greater value than their current home is worth. If your house is in negative equity and you want to trade up, a Negative Equity Trade Up Mortgage allows you to add the negative equity balance [...]

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AIB may exceed mortgage restructuring target

AIB will meet or exceed central bank targets for restructuring mortgages, the bank’s chairman David Hodgkinson has told its annual general meeting this morning. Hodgkinson said that the state-owned bank is still targeting a return to operating profit after loan losses this year before posting net income next year. AIB last posted net income in 2008. [...]

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AIB considering allowing movers to retain their trackers

State owned AIB are understood to be considering following in the footsteps of Bank of Ireland and Permanent TSB by offering new mortgage deals to existing homeowners who wish to move house while retaining their tracker mortgage. Chief Executive David Duffy has confirmed that the bank is examining all possible arrangements to allow people to [...]

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Homeowners will be allowed to move and keep their tracker mortgage

Homeowners will now be able to move house without having to give up their low interest tracker mortgages. Trackers are linked to the rate set by the European Central Bank, which currently has an historically low rate of 0.5%. With 375,000 homeowners currently on tracker mortgages, many are reluctant to move for fear of losing [...]

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AIB confident of returning to profit this year

AIB has said it is on track of reaching its target of returning to pre-provision operating profit in 2013. In an interim management statement, the bank said that actions taken last year have resulted in an improvement in its overall operating performance in the first quarter of 2013. It said its loan portfolios are performing [...]

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