Struggling AIB customers could benefit from new mortgage deal

Thousands of AIB customers could benefit from partial debt write-offs, if they are on split mortgages.
Those who hold distressed mortgages with EBS and Haven could also qualify.
AIB will select beneficiaries from a group of customers who have already come to, or are working on, split mortgage arrangements with the lender.
Other institutions are expected to follow the AIB lead, meaning up to 10,000 people could eventually benefit.
Charlie Weston is the Personal Finance Editor with the Irish Independent. He says, for now, numbers will be much smaller.
“AIB are quite proactive in trying to deal with the mortgage crisis, but then given how slow all the banks are that doesn’t say a whole lot” he said.
“They told the Oireachtas Committee before Christmas that they had about 200 customers on split mortgages – those who are on the existing old split mortgage will be offered this and new people will be offered this as well if the bank decides it”.
“We’re talking maybe the low thousands here who should qualify for this” he added.