Tuesday September 22, 2020

AIB plans to sell off thousands of family home mortgages

Project Oak is the first time AIB has sold a portfolio that directly involves primary dwelling homes mortgages

Ian Guider

Markets Editor

9th February, 2020
Project Oak is the first time AIB, which is 71 per cent owned by the state, has sold a portfolio solely consisting of primary dwelling home loans.

AIB is planning to sell a portfolio of thousands of loans linked to family homes as the bank seeks to clear its remaining mortgage arrears.

The portfolio, dubbed Project Oak, is the first loan book sale launched by the bank that directly involves primary dwelling homes mortgages and the disposal process was initiated in the last few days.

The bank is also attempting to encourage customers in long-term arrears on their home loan to negotiate...

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