IMHO does 1,330 deals with AIB in the first year

[Brendan Burgess]

The Irish Mortgage Holders Association has released its statistics for the first year

https://www.mortgageholders.ie/results/

Deals involving cost to bank/savings to borrower while keeping home

Negative equity split mortgage|253
Positive equity split mortgage|27
Reduced interest rate|79
Total|359

• 75 of the splits had debt write downs
• The positive equity product was only introduced in September 2014
• The reduced interest rate product was only introduced in July 2014

Rescheduling at no cost to bank, while keeping home

Capitalising arrears|213
Term extension|159
Interest only|159
Interest and part capital|106
Moratorium|3
NE Trade down|1
Total|641

Deals involving loss of family home

Voluntary sale |80
Mortgage to rent|53
Total|133

Buy to lets

Voluntary sale of buy to let|199

This seems like the only solution for buy to lets which seems odd.

 

[Brendan Burgess]

The figures strike me as quite low.

More stats in this slide

They get 125 calls a day.

Deals done|1,300
Proposals being considered by AIB|170
Proposals being worked on in the office|130
Finalised agreement who already had an offer|104
Recommended insolvency for unsecured debt |127
Total|1,831

I spoke to David Hall. Many of the calls are from people just looking for advice on the deal that they are being offered directly. Some are just asking general questions.

They have sent out 4,000 packs - 2,000 have been returned.

AIB still has 8,000 customers who have not submitted SFSs.

 

[Delboy]

He made a big play on Newstalk earlier about the values involved as opposed to the numbers. Said the 1,300 settlements were worth more than €400m in Mortgage debt and that €400m was a hugely significant sum by any standards

 

[Kine]

This seems like the only solution for buy to lets which seems odd.

Ties into my experience with one of the other Banks; on a BTL there was no option for a split mortgage etc, this only applied to people who were still living in their home. Even if it was the only property you owned, it was classed "BTL" and treated as such.