Property News from MTSProperty.com

2,000 Permanent TSB Borrowers to Sell Properties

The Irish Times today reports that some 2,000 PTSB customers, who are currently in arrears, plan to sell their properties. This represents one potential solution to the widespread problem of hard-pressed mortgage payers struggling to pay back loans on their properties as a result of the downturn.

The report goes on to say that the bank worked with its customers to arrive at this arrangement, and that the figured "doubled" to “roughly 2,000 from June to September.

In terms of its wider base of customers struggling with arrears, Permanent TSB has said it has "offered" solutions to 26% of customers in arrears, ahead of a target of 20% set by the Central Bank.

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