# Which banks have agreed to implement the Deferred Interest Scheme



## Brendan Burgess (11 May 2011)

*DÁIL QUESTION*

*NO*

To ask the Minister for Finance if he will provide details of the financial institutions which are currently implementing the recommendation of a deferred interest scheme as set out by Expert Group on Mortgage Arrears and Personal Debt; and if he will make a statement on the matter.

- Michael McGrath.​ 
*    For WRITTEN answer on Tuesday, 19th April, 2011.

Ref No: 8374/11

*REPLY*​ 
*Minister for Finance ( Mr Noonan) :* 

  The Central Bank has advised me that the following lenders have notified the Bank of their intention to implement the recommendation of a Deferred Interest Scheme (DIS), as set out in the final report of the Expert Group on Mortgage Arrears and Personal Debt:


*Allied Irish      Banks, *
*AIB** Mortgage Bank,*
*Bank of **Ireland**,*
*ICS* *Building** Society,*
*EBS, *
*Haven Mortgages,      *
*Irish Nationwide      Building Society, *
*Permanent TSB, *
*Springboard      Mortgages*
*Start Mortgages.      *
 
  As at the end of December 2010, these named institutions held a market share of approximately 65% of the value of outstanding owner-occupier mortgages in the State. 

  The date at which lenders will be in a position to offer a DIS to borrowers varies. Some institutions expect to be in a position to offer the scheme by the middle of 2011.


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## Brendan Burgess (11 May 2011)

So the main ones who have not agreed to implement a scheme are: 

Ulster Bank and First Active 
KBC 
National Irish Bank 
Bank of Scotland


In practice, these banks have similar schemes in place.


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## Brendan Burgess (13 Jul 2011)

Update from 7 July

*Michael McGrath* (Cork South Central, Fianna Fail)_Question 82:_  To ask the Minister for Finance  the position regarding the roll-out of  the deferred interest scheme as recommended by the Expert Group on  Mortgage Arrears and Personal Debt.  *[19380/11]*

*Michael Noonan* (Minister, Department of Finance; Limerick City, Fine Gael)
The  Central Bank has advised me that the following lenders have notified  the Bank of their decision/intention to implement the recommendation of a  Deferred Interest Scheme (DIS) or a variation of it, as set out in the  final report of the Expert Group on Mortgage Arrears and Personal Debt  with the following effective dates: 



Mortgage Lender|Effective Date
Allied Irish Banks|Final quarter of 2011
AIB Mortgage Bank|Final quarter of 2011
Bank of Ireland|Implemented
ICS Building Society|Implemented
EBS|Implemented
Haven Mortgages|Implemented
Irish Nationwide Building Society|Third quarter of 2011
Permanent TSB|Will be implemented from 11 July 2011
Springboard Mortgages|Implemented
Start Mortgages|Final quarter of 2011
It is important to note that the DIS is a voluntary scheme, and as such all lenders do not have to sign up to it.


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## Wishes (6 Oct 2012)

*What banks are involved in the deferred interest scheme?*

Does anybody know what banks are involved in the deferred interest scheme?

Are Acc Bank and Ulster Bank not involved with the scheme?

There seems to be very little information out there about the above.

Any information would be great please?


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## Brendan Burgess (6 Oct 2012)

I don't think that UB has implemented the scheme. However, in practice, if you are engaging with them and paying 66% of the interest, they would not take further action.

Not sure about ACC, but I suspect it's the same.


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## Alwyn (6 Oct 2012)

I don't think ACC are implemented in the scheme.  

Brendan, are the banks generally postponing repossession if 66% of the interest is being paid?  I presume nothing is being paid off the capital?  How long would the banks accept such a proposal for?


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