Oireachtas Joint and Select Committees
Thursday, 11 October 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Sale of Property Loans (Project Glas) By Permanent TSB: Discussion
11:30 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
I have a final question on this matter. I am looking for details. Mr. Masding talks in bravado terms and asks to be shown the court cases that will change these legal documents and so on, but that is not the issue. We all know what the issue is. A large number of the customers on whom Permanent TSB is now turning its back have arrangements with it and these arrangements will come up for review after a time, but the vultures do not offer the options the bank does. That is the problem. A customer may have an arrangement now that the vulture will legally be obliged to honour, but when it comes up for review, the customer will be on his or her own. That is how the bank is turning its back on these customers. Of the 7,400 owner-occupier homes that are being sold, how many have arrangements? Of those arrangements, how many will be up for review each year?
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