Mortgage scheme sees 1,300 long-term resolutions

//Mortgage scheme sees 1,300 long-term resolutions

Mortgage scheme sees 1,300 long-term resolutions

A scheme to help distressed mortgage holders in their dealings with the AIB group has resulted in more than 1,300 long-term resolutions being reached in the past year.

A year ago the Irish Mortgage Holders Organisation entered into an arrangement to act as a third-party broker to advise distressed borrowers in their dealings with the AIB group.

Today, the IMHO has produced figures showing that in its first year it agreed 1,330 long-term resolutions for people in mortgage arrears.

75-100 of those deals involved debt write-down on family home mortgages of €1,000-190,000, where the families were allowed to continue living in their homes.

A further 279 resolutions included debt write-down involving properties which were then voluntarily sold, with most of these in the buy-to-let sector.

AIB says the scheme, which is free, has delivered significantly for customers who might not otherwise have engaged with the bank.

It has now decided to extend the scheme for another 12 months, with an expanded team.


RTÉ News – News Headlines

By | 2014-11-04T00:32:33+00:00 November 4th, 2014|Headlines|0 Comments