The letter sent to a Permanent TSB customer in July, which advised she clear less than €200 in arrears by selling her house. The Hub Ireland
Debt Crisis

PTSB is "not aware" of letters advising people in minimal arrears to sell their homes

Sinn Féin’s Pearse Dohery says that he has met with a family who were advised to clear arrears of €300 by selling their home, something the PTSB CEO says he is “not aware” of.

THE CHIEF EXECUTIVE of Permanent TSB has denied that he has any knowledge of any letters being sent to account holders in low amounts of arrears which advised they sell their homes.

Appearing before yesterday’s sitting of the Oireachtas Finance Committee, PTSB CEO Jeremy Masding said he was “not aware” of a family being asked to voluntarily sell a home after falling into arrears of just €300.

The head of asset management at the bank, Shane O’Sullivan said that “there are cases that affordability and sustainability are not there”.

The letters, such as one printed on in July have been sent to some account holders said Sinn Féin’s Pearse Doherty.

Doherty says the family who were sent the letter were told by the bank that the letter was “computer generated” after their account went into arrears for ten days.

“Obviously, I respect the relationship between a customer and their TD,” said Masding, before urging TDs to share such cases with him.

The bank has earlier revealed that 800 of their customers had been involved in assisted voluntary surrender of their homes, while a further 1,200 had been advised that surrender was the bank’s preferred option for them.

Read: Permanent TSB tells customer in arrears of €200 to sell her house

Read: Permanent TSB has offered 3,500 split mortgages, has taken legal cases against 1,600

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