Tag Archives: AIB

The mortgage-to-rent scheme was aimed at helping people in mortgage arrears to stay in their home but so far very few have benefitted from it

Just 2% of mortgage-to-rent scheme application are approved

A scheme to allow people with unsustainable mortgages give up ownership of their homes and rent them instead has seen less than 2% of applications approved. Under the Government-backed initiative, a property is bought at a market price from a bank by a voluntary housing agency which then lets the home to the occupants. Since [...]

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Mortgage lending is on the rise, up almost a third in the last year

Mortgage lending on the rise but a lack of stock is holding back sales

One of the biggest complaints about the property market in recent years has been the availability of mortgage finance from our lenders. After the over-zealous nature of lending during the boom years, it was always going to be the case that the banks would be more cautious but, if anything, it went to the opposite [...]

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AIB considering slashing interest rates for some of those in arrears

AIB is considering slashing interest rates for some mortgage holders who are in arrears. The bank is examining the option of reducing interest rates for some homeowners as low as 0.5%. It is expected it would introduce the measure in the second quarter of this year and follows a similar move by Ulster Bank. It [...]

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The new deal could free people from debt within three months

The majority shouldn’t expect debt write downs any time soon

Those struggling with mortgage repayments at present might have taken some heart from the fact that earlier this week AIB wrote off some debt for families while allowing them to remain in their homes. However, these incidents are likely to be exceptions rather than the rule, with the vast majority of us forced to continue [...]

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AIB to allow customers move and retain their tracker mortgages

AIB has joined the growing number of banks that allow customers moving house to retain their tracker mortgages. In a letter to Fianna Fáil’s finance spokesman Michael McGrath, AIB Chief Executive David Duffy said customers would pay the existing tracker rate, plus a further 1% for the duration of the mortgage if they move home. [...]

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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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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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