Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

It definitely would not because that goes to the core of the Bill, which is that the Bill would not allow without the borrower's consent the bank to sell on the loan to a vulture fund, and that would apply for existing contracts henceforth. That would potentially remove a tool, given that it would be unlikely for many borrowers to give their consent to vulture funds, which I will come to in a moment.

The banks have taken a hit on these loans. Are there not a number of other tools to allow the banks to deal with those assets at that point? It is not the case that they would be left bare when dealing with distressed mortgages. There are a number of examples, some of which are contained within the code of conduct on mortgage arrears, that are non-obligatory and are not used by many banks, such as debt write-down and other measures that could be used.