Revealed: how the banks are offering unworkable solutions to borrowers

New property loan proposals illustrate that some indebted borrowers are being presented with unworkable solutions by their banks, writes Jon Ihle.

21st September, 2013
Richie Boucher of Bank of Ireland. Photo: Tony O'Shea

Examples of property loan arrears proposals seen by The Sunday Business Post show that, in at least some cases, Irish banks are putting forward unrealistic or unworkable solutions for borrowers who are struggling to pay their debts, or not paying at all.

The documents show that the three state-backed Irish lenders - Bank of Ireland, AIB and Permanent TSB - have put forward proposals that may not meet Central Bank guidelines for sustainability. Some of...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago