GLASGOW, SCOTLAND, November 03, 2012 (Press-News.org) Ireland's mortgage crisis has become significantly worse over the last few months. With 19bn of the bank's business being mortgage debt and the average mortgage being around GBP200,000, it is estimated around 12,500 customers are probably now in mortgage arrears. Ulster Bank, which is owned by Royal Bank of Scotland and also has a subsidiary, First Active, intends to take on 200 new staff to deal with it, of which 150 will be Scotland-based.
However, the move has caused controversy. Ulster Bank has an ongoing restructuring programme in place, and intends to continue with its plans to lay off staff in Ireland, claiming it needs to recruit in Scotland because the short timescales involved would make finding staff in Northern Ireland difficult.
A spokeswoman for Ulster Bank said: "The Arrears Support Unit will be expanding to the UK because of ongoing difficulties in finding the number of experienced and specialist people in the Republic of Ireland within a short timeframe we want to work to."
It's a move that has outraged the country's banking unions.
"It flies in the face of the Government's jobs policy for the financial sector," said Larry Broderick of the Irish Bank Officials' Associations (IBOA), one of the organisations that has written to the Government and the Financial Regulator to try and block the move. "Some of the 950 Ulster Bank people being targeted for redundancy could do this. The skill set is here."
The reasons behind the sudden drive to recruit new staff for arrears chasing may also be down to the Ulster Bank coming under strong pressure from the Central Bank to increase its mortgage arrears team and deal more effectively with its mortgage arrears and to prevent any increase in bankruptcies. Having 13% of its debt as mortgage arrears would be considered to large for comfort in the banking industry.
A spokesperson for Trust Deed Provider, Scottishtrustdeed.co.uk, said: "This move by Ulster Bank is welcome from the point of view of proving jobs to Scottish people, but is unwelcome from another as debtors with mortgage arrears will be facing increased stress when the new loans chasing team start applying pressure for them to clear their arrears."
The Scottish Debt Advice spokesperson added; "While it is never good to be in arrears on your mortgage, it has very different ramifications from being in arrears on say a loan or credit card. It is very likely that Scotland will see a rise in property repossessions that will be directly attributable to the actions of the new loans chasing team, not to mention increased poverty and hardship as home-owners are forced to find money to clear the arrears or lose their property.
Scottish Trust Deed provide help and advice on the ScottishTrust Deed debt solution. With a Trust Deed you can write off up to 90% of your debt and be completely debt free in 36 months. Our experienced advisors are only a phone call away to help you with your debt problems.
Website: www.scottishtrustdeed.co.uk
150 Arrears Chasers to Be Hired in Scotland, Says Debt Advice Company Scottishtrustdeed.co.uk
Ireland's third biggest lender, Ulster Bank, has revealed new plans to hire 150 new loans chasers in Scotland after mortgage arrears accounts for 13% of its mortgage business, says debt management company Scottish Trust Deeds.
2012-11-03
[Attachments] See images for this press release:
ELSE PRESS RELEASES FROM THIS DATE:
UCSB scientists report 'new beginning' in split-brain research, using new analytical tools
2012-11-02
(Santa Barbara, Calif.) –– UC Santa Barbara has reported an important discovery in the interdisciplinary study of split-brain research. The findings uncover dynamic changes in brain coordination patterns between left and right hemispheres.
Split-brain research has been conducted for decades, and scientists have long ago shown that language processing is largely located in the left side of the brain. When words appear only in the left visual field –– an area processed by the right side of the brain –– the right brain must transfer that information to the left brain, in ...
California is home to extreme weather, too
2012-11-02
MERCED, Calif. — California isn't going to face a superstorm like Hurricane Sandy because the Pacific Ocean is too cold to feed that kind of weather system.
But that doesn't mean California won't see extreme weather, say researchers from the University of California, Merced.
"We can see very big storms, and there are a couple of issues related to climate change to think about," said Roger Bales, director of the Sierra Nevada Research Institute. "Most of our biggest storms are snow storms, which builds up snowpack in the mountains. The snowpack is a reservoir, storing ...
Developmental bait and switch
2012-11-02
PASADENA, Calif.—During the early developmental stages of vertebrates—animals that have a backbone and spinal column, including humans—cells undergo extensive rearrangements, and some cells migrate over large distances to populate particular areas and assume novel roles as differentiated cell types. Understanding how and when such cells switch their purpose in an embryo is an important and complex goal for developmental biologists. A recent study, led by researchers at the California Institute of Technology (Caltech), provides new clues about this process—at least in the ...
Weill Cornell receives $1.5 million in Grand Challenges Explorations grants
2012-11-02
NEW YORK (Nov. 01, 2012) -- Weill Cornell Medical College announced today that it is a Grand Challenges Explorations winner, an initiative funded by the Bill & Melinda Gates Foundation. Researchers at Weill Cornell have been awarded three research grants totaling more than $1.5 million. Weill Cornell's Dr. Juan R. Cubillos-Ruiz, a postdoctoral research associate in medicine in the laboratory of Dean Dr. Laurie H. Glimcher, will pursue an innovative global health and development research project titled, "Tailored Nanodevices to Understand Resistance Against HIV," Dr. Carl ...
New medication shows promise as lipid-lowering therapy for rare cholesterol disorder
2012-11-02
PHILADELPHIA – An international effort led by researchers at the Perelman School of Medicine at the University of Pennsylvania has resulted in positive phase 3 clinical trial results for a new medicine to treat patients suffering from a rare and deadly cholesterol disorder.
Penn researchers report in The Lancet that lomitapide, a first-in-class microsomal triglyceride transfer protein (MTP) inhibitor, substantially and stably reduced LDL cholesterol (the "bad" cholesterol) in patients with the orphan disease homozygous familial hypercholesterolemia (HoFH). Lomitapide ...
Brain imaging alone cannot diagnose autism
2012-11-02
Belmont, MA— In a column appearing in the current issue of the journal Nature, McLean Hospital biostatistician Nicholas Lange, ScD, cautions against heralding the use of brain imaging scans to diagnose autism and urges greater focus on conducting large, long-term multicenter studies to identify the biological basis of the disorder.
"Several studies in the past two years have claimed that brain scans can diagnose autism, but this assertion is deeply flawed," said Lange, an associate professor of Psychiatry and Biostatistics at Harvard Medical School. "To diagnose autism ...
When considering bariatric surgery think about bones
2012-11-02
Bariatric surgery, which significantly curtails the amount of food a person can eat, is the most effective treatment against obesity and is being recognized as a potentially valuable tool in the fight against diabetes related to obesity. It is being performed on increasing numbers of people worldwide, including teenagers.
Unfortunately, some types of bariatric surgery may also cause bone loss, a cause for concern, particularly when carried out on young people who have not yet reached their peak bone mass, say endocrinologists from Sydney's Garvan Institute of Medical ...
Temporary storage for electrons: Natural method of producing hydrogen
2012-11-02
Scientists at the Max Planck Institute for Chemical Energy Conversion (MPI CEC) and the Ruhr-Universität Bochum (RUB) have found through spectroscopic investigations on a hydrogen-producing enzyme that the environment of the catalytic site acts as an electron reservoir in the enzyme. Thus, it can very efficiently produce hydrogen, which has great potential as a renewable energy source. The research team describes their results in the journal "Angewandte Chemie".
Producing hydrogen with enzymes
The system analysed constitutes an enzyme that catalyses the formation and ...
Health project in India saved many mothers and children
2012-11-02
Infant mortality has fallen by half, and the number of women who died from complications during pregnancy and childbirth by three-quarters. This is the result of a four-year health care project in one of India's poorest districts.
"We're overjoyed that mortality could be reduced with relatively simple means like mobile health care centres. It was successful because pregnant women and new mothers got the opportunity to actively seek care."
So says Siw Alehagen who, together with AnnaKarin Johansson, Orvar Finnström and Göran Hermansson – all of Linköping University ...
MRI research sheds new light on nerve fibers in the brain
2012-11-02
World-leading experts in Magnetic Resonance Imaging from The University of Nottingham's Sir Peter Mansfield Magnetic Resonance Centre have made a key discovery which could give the medical world a new tool for the improved diagnosis and monitoring of brain diseases like multiple sclerosis.
The new study, published in the Proceedings of the National Academy of Science, reveals why images of the brain produced using the latest MRI techniques are so sensitive to the direction in which nerve fibres run.
The white matter of the brain is made up of billions of microscopic ...
LAST 30 PRESS RELEASES:
Eye for trouble: Automated counting for chromosome issues under the microscope
The vast majority of US rivers lack any protections from human activities, new research finds
Ultrasound-responsive in situ antigen "nanocatchers" open a new paradigm for personalized tumor immunotherapy
Environmental “superbugs” in our rivers and soils: new one health review warns of growing antimicrobial resistance crisis
Triple threat in greenhouse farming: how heavy metals, microplastics, and antibiotic resistance genes unite to challenge sustainable food production
Earthworms turn manure into a powerful tool against antibiotic resistance
AI turns water into an early warning network for hidden biological pollutants
Hidden hotspots on “green” plastics: biodegradable and conventional plastics shape very different antibiotic resistance risks in river microbiomes
Engineered biochar enzyme system clears toxic phenolic acids and restores pepper seed germination in continuous cropping soils
Retail therapy fail? Online shopping linked to stress, says study
How well-meaning allies can increase stress for marginalized people
Commercially viable biomanufacturing: designer yeast turns sugar into lucrative chemical 3-HP
Control valve discovered in gut’s plumbing system
George Mason University leads phase 2 clinical trial for pill to help maintain weight loss after GLP-1s
Hop to it: research from Shedd Aquarium tracks conch movement to set new conservation guidance
Weight loss drugs and bariatric surgery improve the body’s fat ‘balance:’ study
The Age of Fishes began with mass death
TB harnesses part of immune defense system to cause infection
Important new source of oxidation in the atmosphere found
A tug-of-war explains a decades-old question about how bacteria swim
Strengthened immune defense against cancer
Engineering the development of the pancreas
The Journal of Nuclear Medicine ahead-of-print tip sheet: Jan. 9, 2026
Mount Sinai researchers help create largest immune cell atlas of bone marrow in multiple myeloma patients
Why it is so hard to get started on an unpleasant task: Scientists identify a “motivation brake”
Body composition changes after bariatric surgery or treatment with GLP-1 receptor agonists
Targeted regulation of abortion providers laws and pregnancies conceived through fertility treatment
Press registration is now open for the 2026 ACMG Annual Clinical Genetics Meeting
Understanding sex-based differences and the role of bone morphogenetic protein signaling in Alzheimer’s disease
Breakthrough in thin-film electrolytes pushes solid oxide fuel cells forward
[Press-News.org] 150 Arrears Chasers to Be Hired in Scotland, Says Debt Advice Company Scottishtrustdeed.co.ukIreland's third biggest lender, Ulster Bank, has revealed new plans to hire 150 new loans chasers in Scotland after mortgage arrears accounts for 13% of its mortgage business, says debt management company Scottish Trust Deeds.