Oireachtas Joint and Select Committees

Thursday, 8 December 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland

9:30 am

Photo of Kieran O'DonnellKieran O'Donnell (Fine Gael)
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That puts the lender, be it a mortgage holder, home owner or small or medium enterprise, in the lap of the Gods, depending on to whom the loan is sold. This area also appears to be unregulated. If a loan is sold to a vulture fund and it decides to flip it on to another vulture fund, my understanding is that the Central Bank has no part to play in that process. Is that correct?