Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The point is that many of these family home mortgages will be fully repaid and are essentially being sold on as part of a bundle at a discount of 38% even though they will be fully repaid. That is the cream on the top of this transaction for the buyer, Start Mortgages. The perfectly good loans will be fully redeemed, fully repaid, and a discount of 38% is being applied in the aggregate.