Senator Aideen Hayden
In relation the the variable rate , you are making them pay for the cheap tracker mortgages. Your bad debts are falling, your cost of funds is falling, so you should be reducing the SVR.
You have 5,500 legal actions out of 12,000 cases in arrears. You are scaring people into engaging in a process. Way higher than the other financial institutions.
AIB is funding IMHO to get people to engage.
You really have a problem if you are engaging in legal proceedings with over 50% of your customers in arrears.
Brown
We have 500 people dealing with arrears cases.
Of the 4,500 who have gone into the court process, they have not engaged with us at all despite our calls and visits.
We have someone at the steps of the court trying to get them to engage
Are you prepared to fund an independent process
Bell: We will work with any third party which the customer asks us to deal with.
We have provided referrals to the Insolvency Service, and where appropriate, we will pay for it.
There are 8,000 customers who are no longer in arrears, because of our work.
We are going to have a bunching in the court system, as it's so inefficient.
Hayden: You have very few split mortgages - what do you mean by "economic concession"
Bell: The 1,885 customers who took a rate reduction were offered a split mortgage, but took the economic concession.