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AIB writes off €150k to allow family stay in home

The deal was negotiated on the family’s behalf by the Irish Mortgage Holders Organisation.

AIB HAS WRITTEN off €150,000 of a mortgage to allow the owners to stay in their family home.

RTÉ reports this morning that the agreement was negotiated between the bank and the homeowners through the Irish Mortgage Holders Organisation. The owners are a married couple with two children and they are now required to pay around €200,000 of the original €400,000 loan.

Speaking on Morning Ireland today, David Hall, Director of the organisation, said it was the largest write-down that he was aware of. He said that every case has “individual specific circumstances pertaining to their particular place – where they live, their financial circumstances, the value of the property, the loan amount”.

He explained that in this particular case, it was in the best interests of both the bank and the family to keep them in their home when repossession costs and the current value of the property were taken into consideration. The property is now valued at around €200,000.

Hall said a number of deals have been brokered between AIB and its customers since the bank entered into an arrangement with the organisation last year which allows it to informally negotiate on behalf of homeowners.

Read: ‘Considerable protections already apply to people who are in mortgage difficulties’>

Read: Mortgage campaigner informally approached by three parties about running for Europe>

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    Mute The Grand Nagus
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    Aug 28th 2020, 9:03 AM

    Hoping he makes a great recovery

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    Mute Margaret Kinsella
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    Aug 28th 2020, 11:16 AM

    Wishing him a speedy recovery and I hope the treatment works

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    Mute Darren
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    Aug 28th 2020, 9:33 AM

    Makes massive headlines. Never even heard of the buck until now…

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    Mute Stephen Deegan
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    Aug 28th 2020, 9:44 AM

    @Darren: try reading more stuff.

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    Mute Michael Clinton
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    Aug 28th 2020, 10:16 AM

    @Darren:
    He’s an incredibly popular gentleman,
    Wishing a speedy recovery.

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    Mute Darren
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    Aug 28th 2020, 10:17 AM

    @Michael Clinton: need to get out under the rock!!

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    Mute John Fahey
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    Aug 28th 2020, 10:32 AM

    @Darren: Google ‘Abe Trump handshake’… he was 1st to visit Whitehouse after inauguration, and as a result, the 1st to suffer the over the top handshake…

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    Mute Lily Martin
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    Aug 28th 2020, 10:58 AM

    @Darren: and not ashamed to admit it :)

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    Mute Michael Clinton
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    Aug 28th 2020, 11:00 AM

    @Darren:
    Genuinely, you really need professional help and support.
    I’m sure if you try hard enough someone in your family might like you..
    I doubt it but it’s worth a try.

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    Mute Micheal S. O' Ceilleachair
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    Aug 28th 2020, 2:04 PM

    Shin sin zo!!!

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    Mute Lisa Rowe
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    Aug 31st 2020, 8:24 PM

    Ima keep it real with you 57th Prime Minister of Japan Shinzo Abe this will NOT improve Japan’s declining birth rate

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