Agreement to write €150,00 off AIB mortgage ‘exceptional’

One in four of the deals completed by AIB and the Irish Mortgage Holders Organisation since November involved a debt writedown, it has emerged.

However, the IMHO has described the agreement by the bank to write off €150,000 from a €400,000 mortgage as exceptional.

It is understood that a married couple with two children had the mortgage on their Dublin home that became unmanageable.