Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The liquidators are conscious of those issues. It would be impractical to sell mortgage by mortgage, so what is on sale is the mortgage book, and it will then be bought by some financial institution. I am assured that because one's mortgage arrangement is a matter of contract law, all the rights one had initially when arranging the mortgage will be preserved on the transfer, and the purchaser will have the same obligations as the original holder of the mortgage book.

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