AIB set to offer partial debt write- offs to some customers

Distressed AIB borrowers could benefit from new arrangements the bank is designing, that will include partial debt write-offs.

It's understood the bank will select customers who qualify for the new product, from a group who come to split mortgage arrangements with them.

It's also expected that borrowers who already have a split mortgage arrangement with AIB can be transferred to the new product and benefit from having part of their debt written off.

David Hall of the Irish Mortgage Holders Organisation hopes other lenders will follow AIB's lead.