AIB will not offer writedown on mortgage debt, says internal memo

AIB will not write down any mortgage debt as part of its plans to tackle arrears, an internal memo has revealed.

The bank outlined four specific schemes which it is to roll out for existing primary residential mortgage customers, according to head of mortgages Jim O’Keeffe. These include:

* Standard/short-term forbearance: Where the difficulty is deemed to be short-term, the solution could be interest only, fixed repayment, repayment break, extension of the loan term, capitalisation of arrears, or deferred interest scheme;