Oireachtas Joint and Select Committees

Thursday, 22 March 2018

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

Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB

9:30 am

Mr. Shane O'Sullivan:

We have decided to exclude certain accounts from the sale for good reason. The primary reason is that we believe that those customers are eligible for mortgage-to-rent arrangements. There are also some customers who are in a vulnerable status and we are working through other customers in terms of our tracker review. Consequently, we are withholding a significant number of accounts from the sale and within that cohort there are customers who have a split mortgage.

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