How the banks respond

Bank of Ireland: "Bank of Ireland has in place a number of mortgage restructure and resolution options. In addition we are evaluating and progressing a number of additional long term forbearance solutions in line with the findings of the report of the Inter-Departmental Group on Mortgage Arrears ('Keane' report). We have set out a timeline for delivering these additional solutions in 2012 (which included the launch of a trade down option for customers in MARP which was launched in April) and have provided this timeline plan to the Central Bank of Ireland as part of our mortgage arrears resolution strategy.

AIB: "AIB is committed to providing long-term solutions for customers in difficulty with their mortgages and details of these solutions will be communicated to customers as they come available over the coming months. We fully accept that this is concerning for a lot of our customers and have been working to ensure we support customers in this situation. To-date AIB has trained more than 2,000 people across the country and also built up a team of more than 240 staff at a dedicated mortgage arrears support unit who provide support in working with customers to find solutions. Both customers who are in arrears and customers who have come forward early to AIB have already been supported with more than 33,000 cases having forbearance put in place. AIB strongly urges anybody facing difficulties in relation to their mortgage repayments to come and talk to us at the earliest possible opportunity."

Ulster Bank: "Our arrears support unit works with our customers in financial difficulty who are willing to engage with us with the aim of agreeing suitable solutions. We continue to offer a variety of forbearance options to those who are experiencing difficulty . . . and these may include; extending their loan term, temporarily moving to interest only payments, reduced repayments on a temporary basis or changes to the duration of forbearance."

NIB: "National Irish Bank has a policy of working very closely with our customers to understand their overall financial situation. We do provide options for customers and encourage any customer who may find themselves in financial difficulty to make early contact with us so that we can assess their particular situation and needs. We're also fully committed to supporting any industry initiatives such as the mortgage arrears resolution process and any other relevant initiatives as they arise ."

Permanent TSB: "We take the issue very seriously and have prioritised the collection and arrears function . . . and will be significantly increasing our focus in the months ahead. We will be working constructively with our customers in . . . arrears with a view to helping them address their arrears position."

KBC:"KBC Bank Ireland is proactively working with its customers who are finding it difficult to meet their mortgage repayments to find a workable solution and a roadmap for recovery. To achieve this, both the bank and the customer must work together. The first step in this process is for the customer to make contact with us. They are required to complete and return a standard financial statement or SFS in order for the bank to assess their financial circumstances.

Our arrears support unit will help customers through the completion of this form step by step.

“Once the form has been completed, we will then assess the individual customers’ circumstances in order to examine possible payment solutions which are mutually acceptable.

. . . The bank has an outreach programme in place to encourage its customers to make contact if they are in difficulty. Most recently, this has included a number of initiatives to assist customers in the process of completing the standard financial statement, through a series of online videos and guides to provide practical assistance. The bank also has a team of mobile staff who can meet with customers at a time and place that is suitable for the customer.

The bank is fully committed to the mortgage arrears resolution process and is continuously working to assess the most appropriate solutions for customers in distress.”