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Bank Of Scotland Ireland Letting Btl Get Part Of Debt Written Off

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i would imagine its to get toxic debts off their books, where they are willing to write of 25% of the outstanding debt so that they can get a mortgage on the property (getting it out of NE) with another lender.

a bird in the hand type secnario.

cash now, or get a empty promise of the cash over the next 25 years

to me this says Ireland is toast, and RBS wants out fast

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This is HBOS, not RBS they're talking about. You own 40% of HBOS as opposed to 60% of RBS.

I love this bit...

"Bank of Scotland has written off Ireland as an entity. If a deal is to be done, they will do it and do it now rather than in 10 to 15 years' time," Mr Dowling said.

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No comfort for Ireland's buy-to-let investors

Irish mortgage lender KBC says it won't be cutting deals to help struggling buy-to-let investors

But KBC's John Reynolds didn't mince his words when asked about Bank of Scotland's new policy when announcing a €177m loss in Ireland today. "The principle we adopt is we lend people money over a long period of time and we expect to get it back over a long period of time."

He pointed out that Bank of Scotland's lending policies had put it out of business. "So I don't think we'll be taking their lead."


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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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