Michael McNamara (Clare, Labour) | Oireachtas source

My question does not really relate to mortgage lending but it is an obvious corollary. As a mortgage lender, I presume Permanent TSB has to seize properties occasionally, appoint examiners and sell properties. I have received a complaint from a constituent and I wonder how typical it is. The constituent might or might not have eventually become customer of Permanent TSB. They put a bid on a property that was accepted by the vendor, which was Permanent TSB or examiners acting on its behalf. They put a deposit down in February 2015 and engaged all of the various professionals, as people do when they are hoping to move home. They were looking forward to moving, arranging a mortgage, etc. Then, only one week ago, they were informed that the vendor was pulling out of the sale. They were not told why this was happening. A solicitor requested the information but no information materialised. They were of the view that the bank simply decided to pull out because there has been an increase in house prices beyond Dublin. In other words, there has been an increase in Clare and other parts of the country and the bank effectively engaged in something similar to gazumping with the view that it could get a little more if it put the house back on the market now. Is that normal practice for the bank?