Brits want to sell UB to Paddy


#297

Wouldn’t surprise me if the common denominator was Interest Only. UB have a truck load of these IOs in arrears, IO term due to end 2016/17/18 and they figure someone else can deal with the headache.

It is actually probably good news for the mortgage holders.
If I was a strategic defaulter with a secret cash pile, I’d fancy my chances of a better deal by opening negotiations with so called vulture funds on a fresh slate than with a lender I’d screwed for a number of years.

Of course defaulters with no secret stash pile will be screwed either way.


#298

Here we go, from thejournal.ie:

So we have TD’s calling for emergency legislation to protect nearly 800 households who haven’t paid their mortgage in over 3 years!!

A great little country to not pay pay your debts!

thejournal.ie/ulster-bank-fa … 5-May2016/


#299

Royal Bank of Scotland is on course for an eighth consecutive year of losses.

thisismoney.co.uk/money/mark … paign=1490


#300

€118m tracker mortgage provision by Ulster Bank during H1

rte.ie/news/business/2016/08 … k-h1-2016/


#301

Ulster Bank to pay €1.5 billion dividend to its parent group

rte.ie/news/business/2016/11 … -dividend/


#302

Ulster Bank is most fined financial institution in Ireland - -> irishtimes.com/business/fina … -1.2850427


#303

Ulster Bank’s 2016 profits down as tracker work continues

rte.ie/news/business/2017/02 … k-results/

Can’t find UB’s 2016 financial statements online yet but it would appear they wrote back the long hanging fruit in 2015 and still have the non performing ones in 2016, so can’t do the same


#304

Blow to 30,000 over-60s as free banking is withdrawn - -> independent.ie/business/pers … 24417.html


#305

It’s 60-65 year olds who will pay fees after this change. 65+ unchanged.

Not sure why they allow this for free anyway. Of all age groups I’d have thought wouldn’t change current a/c due to fees, it would be 65+


#306

I gather the branch closures have begun. Dalkey branch will close on June 9th (reducing the town to only one on-street ATM).


#307

What do the good peoples of Dalkey be needing with banks.

And atms? Cash? Really?


#308

Dorset st branch also closing in June.


#309

22 branches closing in this round of branch closures …

The affected branches include five in Dublin (Dalkey, Donnybrook, Dorset St, Rathmines, and Sandyford); four in Cork (Ballincollig, Blackpool, Carrigaline, and Fermoy); two in Donegal (Ardara and Raphoe); two in Cavan (Arva and Cootehill); two in Limerick (Castletroy and Newscastlewest); and two in Galway (Briarhill and Newcastle). The other closures are Ballyhaunis in Mayo, Ballymote in Sligo, Carrickmacross in Monaghan, Edenderry in Offaly, and Edgeworthstown in Longford.


#310

#311

Ulster says no mass branch closures here after RBS move - Donal O’Donovan -> independent.ie/business/iri … 72049.html

They’ve been shuttering them quietly across the country for the last few years.


#312

Ulster Bank puts €1.6bn in defaulted mortgages on market

irishtimes.com/business/fin … -1.3490664


#313

ECB seems to have been looking into bouncing the state into this

irishtimes.com/business/financial-services/ulster-merger-with-ptsb-could-boost-profits-by-50-davy-says-1.3789556


#314

On that basis RBS should buy PTSB.


#315

It is very difficult to offload a book of mortgages where a significant cohort don’t see it as their obligation to pay very much, if anything at all for 2 years or more, yet still retain the property. Backed up by elements of the courts service. International investors and taxpayers tend not to go for that too much.


#316