One of the country’s biggest banks is offering to write-off mortgages, but only for landlords.
Permanent TSB is allowing buy-to-let investors sell their properties and write-off any residual debts.
This is the first mainstream bank to to offer debt forgiveness on a formal basis.
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It’ll no doubt please small investors and so-called accidental landlords who’re struggling to make their repayments.
But private homeowners will wonder why they’re not included.
The Irish Independent, which broke the story today, says other banks are likely to follow Permanent TSB’s lead – but only for those who genuinely can’t repay what they owe.
PTSB is still 75 per cent owned by the State and has bad debts worth almost a third of its loan book.
