Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

You cut off the Minister. The second question still stands. If the loans revert to NAMA, will the Government facilitate the people whose loans they are in purchasing them from NAMA at a reduction, similar to that offered to the markets in the process taking place in March or at a lower rate? I assume there will be an administration burden on NAMA. It is important for the Minister to have clarity on whether there is a legal contract because these loans may be sold on again. He has indicated that legislation will be introduced in 2015. The Taoiseach has said the reason for not introducing it this year is that 61 bids have been received. He has indicated that that was one of the bids and that it did not come out of the hat in time, which is somewhat strange. Given the level of interest in the issue which I presume is reflected across the Opposition benches, the Sinn Féin Party will facilitate the speedy passage of such legislation. If it means sitting additional days, let us do so in order to have a clear-cut system to ensure mortgage holders will be protected when these loans are sold on to unregulated institutions.

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