Oireachtas Joint and Select Committees

Tuesday, 6 February 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Tracker Mortgages: Permanent TSB

4:00 pm

Mr. Ger Mitchell:

A family home customer who lost a family home was paid €50,000 in a down payment initially. Any customer who lost a buy-to-let property was paid €25,000 in a down payment initially. That was a holding position to allow customers time to lodge the appeal and put them in funds. It would allow the appeal to work through with each individual case because the value of properties would have been different. The degree to which the detriment would have been incurred would have been different from customer to customer. It was an initial holding payment for each customer.

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