The Justice Minister has this afternoon welcomed reports of a move by AIB who are said to be considering offering mortgage write -offs for some of its customers.

But Alan Shatter has said that any such arrangements can only apply to those who truly cannot pay as opposed to those who will not pay. 

The Head of the bank's Arrears Unit, Garry Stran, says the offer is for customers who are in severe difficulty making their repayments and who work with the bank on mortgage restructuring, which includes the possibility of a portion of debt forgiveness. 

Newstalk Business Editor Ian Guider says we may see other banks offering similar solutions: