Banking work-out firm Certus plans to pitch for the contract to service tracker mortgages moved from Permanent TSB and AIB if the Government proceeds with this plan in the next restructuring of the State-controlled banks, according to a report in today’s Irish Times.
Joe Higgins, chief executive of Certus, which is running down the Bank of Scotland (Ireland) loans for UK bank Lloyds and assisting AIB on mortgage arrears cases, said the firm already services large tracker mortgage portfolios, including performing loans and loans which are in arrears.
The firm was “ideally placed to service such a book” if the tracker loans are removed, he said.
“We have the advantage of being able to focus solely on working constructively with customers who are in difficulty to get the best result for all concerned.”
Certus has appointed former politician Pat Cox and Liam Young, the former chief executive of directory enquiries firm Conduit, as advisers to help the company land new banking contracts.
Mr Higgins said that Mr Cox, a former European Parliament president, would help target potential contracts through the Irish and European government sectors.
“Bringing somebody with experience of operating and who knows their way around that government sphere was beneficial,” said Mr Higgins.