Ms Ann Nolan:

I understand it will not apply if the buyer is a non-regulated entity. They will not have access to the Financial Services Ombudsman. It is another matter we are considering in the Department at the moment. I understand the two purchasers of the existing portfolios of mortgages that have previously been sold on the Irish market have established an internal, independent appeals procedure which they are using for people who wish to appeal where they have a problem with their mortgage. We will ask whoever purchases these mortgages to do the same. We are reviewing this issue in the legislative review that we are carrying out.