Bank of Ireland will veto full or partial debt write-offs

Bank of Ireland will seek to veto any personal insolvency arrangement which includes a full or partial mortgage debt write-off.

The toughest stand on home loan debt of any of the lending institutions has been branded “cruel” and “appalling” and contrasts with other banks that allow debt write-off in certain circumstances.

“It is neither a policy nor a practice of the bank to write off secured debt,” Bank of Ireland’s group chief executive Richie Boucher told members of the Oireachtas Finance Committee heard yesterday.