In light of P Kissanes email of last evening, I was surprised to read that he believes that the overall costs to the banks could be 500 million. How many mortgages accounts are currently under review ? And what percentage of those included in the review are likely to receive positive outcomes ? Or is it a case that that all accounts around a certain time are included with a high percentage having no real hope?
How many accounts are under review
- Thread starter DamC82
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Brendan Burgess
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This was the discussion between Michael McGrath and the Governor:
"McGrath : cost €78m for 2,600 so you are looking at a bill of €300m for 10,000
Add in the pre review figures, and the cost is €500m?
Governor: Some are very large sums, some are at the low end. That average will conceal a lot"
It would be very hard to estimate the costs.
another big element would be the future profits lost by putting people back on trackers.
10,000 @ 2% of €100k for 15 years = €300m
"McGrath : cost €78m for 2,600 so you are looking at a bill of €300m for 10,000
Add in the pre review figures, and the cost is €500m?
Governor: Some are very large sums, some are at the low end. That average will conceal a lot"
It would be very hard to estimate the costs.
another big element would be the future profits lost by putting people back on trackers.
10,000 @ 2% of €100k for 15 years = €300m