Oireachtas Joint and Select Committees

Tuesday, 26 March 2019

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

Central Bank of Ireland: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I am dealing with a number of people who are deeply frustrated at the sale of Permanent TSB loans to Glenbeigh Securities. They are involved in restructuring arrangements and want to repay their mortgages in full when they come out of arrears, but Permanent TSB will not allow them to do so. That is mind-boggling. It does not make sense to me that it is telling them that they have to wait until the end of the six-month period and then deal with Pepper. The Central Bank told me that the Permanent TSB website stated people could pay off their loan at any time but only to clear the entire loan. I am talking about people who are involved in restructuring arrangements and may be repaying 70% of their mortgage.

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