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Permanent TSB says it's offering around 500 distressed borrowers
deals such as split mortgages, where part of their loan has been set aside.
Just one percent interest will apply to the part of the mortgage that
has been parked.
It's the first of the country's big lenders to respond to to government and
Central Bank targets to deal with the mortgage crisis by offering
long-term mortgage deals.
Other restructuring methods include “interest only” repayments.
CEO of the PTSB Jeremy Masding says he's confident that solutions
to the mortgage crisis can be found with individual customers, without
having to write-off chunks of debt:
