Bank of Ireland providing two out of five mortgages in Ireland this year

Bank of Ireland providing two out of five mortgages in Ireland this year

Bank of Ireland today issued a statement insisting that the vast majority of customers on its €27.5bn mortgage portfolio are meeting their repayments. The bank also said it has committed significant resources to managing mortgage arrears for those who are struggling.

It also said it has hired third party international experts to help them in their task and that the message to customers in difficulty is still “come and talk to us”.

Bank of Ireland said it has processed mortgage applications worth €1bn so far this year and added that two out of five customers were now receiving mortgages from it, as opposed to other lending institutions.

“Bank of Ireland has made significant progress in raising capital, funding and in restructuring the business,” the statement said.

“Against this strengthened background the Bank is in a position to support its customers by the provision of finance to mortgage borrowers and by supporting those mortgage customers in difficulties through a range of modification solutions that enable customers to retain their property whilst repaying their mortgage over time.”

“While the vast majority of the Bank’s customers are continuing to meet their mortgage repayments, the management of mortgage arrears is a key priority for Bank of Ireland,” the statement continued.

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