Permanent TSB to write-off mortgages for landlords

The bank is allowing buy-to-let investors sell their properties

One of Ireland'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.

It will no doubt please small investors and so-called accidental landlords who are struggling to make their repayments.

But private homeowners will wonder why they are not included.

The Irish Independent claims says other banks are likely to follow Permanent TSB's lead, but only for those who genuinely cannot repay what they owe.

PTSB is still 75% owned by the State, and it has bad debts worth almost one-third of its loan book.