Mr Lynch said: "This is a matter that I have been pursuing with the banks since the introduction of split mortgages. As Chair of the Oireachtas Finance Committee, I therefore welcome this key development as it will put distressed homeowners with strained household budgets at some ease.
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"The decision by IBRC today reflects that already taken by AIB, however I am still concerned that there are other financial institutions are not taking the same approach and are not treating distressed customers with the same level of equality in their resolution processes.
"This Government is working hard to address households who are in both short and long-term difficulty. Technical solutions such as split mortgages and debt re-structuring are key to this programme, but the banks need to continue working with distressed customers in a conciliatory manner. Today’s development is a welcome decision in that direction."
(CD/MH)
