Half of bank customers in arrears face legal action

Almost half of Ulster Bank mortgage customers in long-term arrears are in the process of having their homes repossessed, an Oireachtas committee has heard.

Over 6,500 customers out of 14,000 in arrears of at least 90 days are either being processed through the courts or “heading in that direction,” the Joint Committee on Finance, Public Expenditure and Reform was told yesterday.

Oireachtas members were also told that Ulster Bank will not engage in mortgage debt write-downs.