Oireachtas Joint and Select Committees

Tuesday, 15 December 2020

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

Banking Issues in Ireland: Central Bank

Mr. Ed Sibley:

Again, I express my sympathy for anyone in that circumstance. As the Deputy has described things, it sounds as though circumstances are such that the legal title has already been transferred. I do not think that he has described a sale of a loan but a sale of a property so the ownership of that property has already transferred. I guess a court order has been applied but not executed in terms of repossessing the property. There are strong protections in place for an owner-occupier or family home. Some farms are classified as a commercial premises so protections are different. If the title has already been transferred through the court process then the same level of protection is not there. We are actively tracking court orders for primary dwelling homes.