A SPLIT HAS emerged in how two of the main banks view unpaid mortgage debt.
Yesterday, AIB confirmed that it may be prepared to write off portions of loans which borrowers are genuinely unable to repay, in return for taking a share in the home. However, Bank of Ireland said this morning that such a debt forgiveness scheme was not an option – indicating that it would be unfair on those who are repaying their loans.
What do you think? Should banks consider some kind of debt forgiveness, even if it means taxpayers end up footing the bill again? Or should borrowers simply lose their homes if they can’t repay their mortgages?
Have your say: should banks write off unpaid mortgage debt?