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

-----although not by the Deputy, who has always handled this responsibly. If I were to attach additional conditions to the mortgage book at the point of sale, there is a possibility that I would be legally challenged on the argument that that might reduce the value of the book. I would be leaving myself open to challenge by other creditors, and there are many other creditors in the bank.

If we do what I have been advised to do, this will work out. I am quite confident it will work out. Two books have been sold already. They gave rise to no difficulties whatsoever and the purchasers are complying fully with the protocols established by the Central Bank. The likelihood here is that if the performing mortgages are not sold they will go to NAMA, which will comply fully.

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