Shatter welcomes AIB mortgage write-off reports

The Justice Minister Alan Shatter has this afternoon welcomed reports of a move by AIB who are said to be considering offering mortgage write-offs for some of its customers.

But Minister Shatter has said that any such arrangements can only apply to those who truly cannot pay as opposed to those who will not pay.

The head of the bank's Arrears Unit, Garry Stran, says the offer is for customers who are in severe difficulty making their repayments and who work with the bank on mortgage restructuring, which includes the possibility of a portion of debt forgiveness.