Slide 1 - Submission to Central Bank at end of June
Total treatments offered 6653 30% of 26,000 customers over 90 days
1,500 short term 23%
2, 750 long term
800 assisted voluntary sale
1600 legal proceedings
Short term
typically 6 months will get back
A moratorium - no payments
Interest only
Interest only +
Interest -
Long term 41% of our total count at half year
1,000 split
600 part capital and interest - there might be a bullet payment at the end of term
750 interest only and capitalization - typically 3 years -
400 term extensions
Closure
no affordability no sustainability
no cash to pay the minimum amount required
At tend of term - no capital to pay mortgage
Legal proceedings
Our count begins when we ask our solicitor to apply to the court - just before the Civil Bill
Legal proceedings is a "stock figure". Includes cases where action began in 2011. (other figures are "flow" figures for first six months)
Customer not engaging - may result in repossession -
Slide 2 (different methodology from CB)
11,000 short term treatments ( only 1,100 included in CB figures)
5,000 long term
1,0000 assisted vol sale
Arrears Repayment Plan ( a new idea)
We believe short term treatments are valid.
CB looks at over 90 days only - we look at it holistically - include less than 90 days - and includes people who are not in arrears who are in treatments
We don't see legal proceedings as a treatment - we see it as a consequence
Slide 3 - the change from end of June to today - same as 2 but up to date
emphasies accelat
10,000 short term treatments ( down from 11,000)
9,000 long term (from 5,0000) ( Includes an increase from 1, 500 to 3,500 split mortgages )
2,000 from 1,000 Assisted Voluntary Sale
Arrears repayment plane
Can pay their monthly repayment + pay contribute to their arrears