Mr. David Hall:

The Central Bank has a repository of information it requires from vulture funds and lenders for the mortgage arrears resolution process. The Supreme Court and the High Court have been alluded to in this committee previously. There is no requirement on any lending institution in the State to provide any mortgage solution. We constantly hear referrals to suites of solutions but there is no requirement to provide solutions. The Central Bank does not have the power to compel lenders in circumstances like those of Mr. Byrne and Ms Irwin to take back those mortgages and allow that transfer or to engage and facilitate such transfers. The Central Bank does not have the power to compel a lender to offer a split mortgage. What happens to the next cohort of people who will be in difficulty imminently? Will lenders offer split mortgages, which gave Ms Irwin and Mr. Byrne some relief and were helpful at the time? No vulture fund will offer split mortgages going forward.