Saturday April 4, 2020

Borrowers hit by Covid-19 to be given repayment break

Court proceedings against defaulters will also be deferred for three months under joint action by five main retail banks

18th March, 2020
Paschal Donohoe: Citizens on full pay should “do their part by paying their bills, taxes, and loans on time, so as the maximum amounts of supports are available to our fellow citizens who are most in need”. Picture: Rollingnews.ie

Ireland’s five main retail banks have set out a relief plan for businesses and homeowners hit by the economic fallout from Covid-19.

Acting jointly, AIB, Bank of Ireland, KBC, Permanent TSB and Ulster Bank agreed to implement payment breaks of up to three months for business and personal customers affected.

The banks have also had discussions with non-bank lenders such as “vulture funds” and with credit servicing firms such as Pepper regarding relief...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Irish Auditing and Accounting Supervisory Authority finds ‘significant’ deficiencies’ at EisnerAmper Ireland

Daniel Murray | 1 day ago

Decision follows ECB advice and will deprive the Exchequer of more than €180m

Ian Guider | 5 days ago

Potential steps include three-month mortgage payment freeze for those under pressure from coronavirus fallout

Róisín Burke | 2 weeks ago