Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

This is the point. We talk about regulation and the code of conduct and so on. I accept that they are in place. I accept the two entities are regulated in exactly the same way, although special purpose vehicles might be exempt from the regulation but I will highlight the issue another way. Is AIB likely to put up my standard variable rate loan by 2.5%? Which organisation is most likely to do that? That is where the risk appears.

Mr. Sibley may be able to clarify the point. I am hearing now that a fund that bought a certain number of buy-to-let loans from one of the banks – I will not mention the bank by name – is now issuing letters asking for the arrears to be paid within 30 days. If the arrears are not paid within 30 days then the organisation will appoint receivers. This is standard practice of the vulture fund now.