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

What would Mr. Masding say to his loyal customers who have been making their best effort to pay their mortgage, have engaged, have entered into restructures and now find their loan sold from under their feet? They feel very aggrieved and feel it is very unfair and unnecessary. I would not understate the level of stress, anxiety and mental health issues this transaction is causing for a great many of Permanent TSB customers. Many of them have asked me if this was necessary given that their loans were well on the way to being reclassified as performing. I am not talking about mortgages where nothing has been repaid for several years. I have no sympathy with such cases. I certainly imagine this bundle contains some of them. There are, however, also many good and loyal customers doing their very best, who have made sacrifices, have engaged, have made agreements with the bank, have kept their word and are well on the way to being reclassified. Could Permanent TSB not have given those loans more time to be cured, in the technical sense, and reclassified as performing?