Mortgage holders’ advocate defends funding from AIB

An advocate for distressed mortgage holders has defended his group’s decision to accept funding from AIB to act as a mediator between it and distressed borrowers.

The Irish Mortgage Holders Organisation, which is working as a charity, will be paid by AIB to position itself as a free independent mediator for heavily distressed borrowers.

Responding to criticism of its partnership with the bank, David Hall said neither he nor the other directors would be paid for their work and it was about making sure those reluctant to deal with the banks had somebody to advocate for them.