AIB chief: 70% of mortgage holders moved to interest-only scheme are now back to normal

on 31/10/2012 16:40:51

The chief executive of AIB says seven out of 10 distressed mortgage holders who were moved to interest-only schemes are now making their monthly repayments.

David Duffy told TDs at the Oireachtas Finance Committee today that the bank has 33,000 homeowners who are in difficulty with their mortgages.

He said where complex difficulties arise all options including debt write off are being considered.

But he said 70% of distressed mortgages - moved to interest only payments - are managing to make ends meet.

"We've been addressing 33,000 customers in difficulty and although 85 to 90% of our customers are paying mortgages, for those in distress that we've put on interest-only forbearance, 70% have been able to return to a normal payment schedule by being on interest-only forbearance," Duffy said/