Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

No, that is not what the code of practice says. I will go through it if Mr. Crowley wishes. It states:

When seeking a consent and where there is to be or where there may be an arrangement under which the original lender will service the mortgage as an agent of any transferee, the lender will confirm that the transferee’s policy on the handling of arrears and in the setting of mortgage interest rates will be the same as that of the original lender...

The bank has to write a letter to the borrower and ask for consent. The final point in the fourth paragraph of the code states "confirmation that in the absence of a specific consent the existing arrangements will continue to apply." There are many other things the bank must do which it has not done. It has not done it in this case or on Project Glas. It has not done so at all. Permanent TSB has thumbed its nose at the Central Bank of Ireland's code of practice on the transfer of mortgages. I ask Mr. Crowley again if, in this case, the bank is considering applying the Central Bank code of practice, which has been in place for the past two decades.