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...

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