Oireachtas Joint and Select Committees

Wednesday, 5 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Bank of Ireland

4:15 pm

Mr. Richie Boucher:

The Deputy could not expect me to agree with him. Let me give a specific example. If we appoint a rent receiver to a property to get the rent which is being diverted to the landlord, to whom we have lent the money, we have a vested interest in keeping the income flowing. I mentioned the thought process in response to an earlier question. We are selling a portfolio of approximately 1,000 properties, of which about 800 are buy-to-lets. We specifically say in the document that we have said to potential acquirers that it is tenancy protected where there are tenants. For the buyer, it is caveat emptor, as he or she knows the tenants are protected.