MORE than 1,000 buy-to-let investors who are in arrears have responded to an offer by Permanent TSB to write off debts if they hand over their properties to the bank. MORE than 1,000 buy-to-let investors who are in arrears have responded to an offer by Permanent TSB to write off debts if they hand over their properties to the bank. Bank to write off debts of more than 1,000 landlords under dealThe take-up of the offer is understood to have surprised bank executives as they battle to lower their non-performing loans numbers. It is the first mainstream bank to offer to write off bad debts on a formal basis. Permanent TSB is under pressure from the Central Bank and the European Central Bank to deal with its bad debts, which represent 28pc of its loan book.

Source: Irish Independent February 13, 2018 02:31 UTC