Tommy Broughan (Dublin North East, Labour) | Oireachtas source

There was a lengthy discussion on this matter, but when I asked the Minister on 28 February 2013 about whether individual mortgage holders would be allowed to bid for their own mortgages, he told me that the contractual terms and conditions of customer mortgages and other borrowings would not change as a result of the appointment of the special liquidator.

As the Minister knows, there is considerable distress among mortgage holders, one of whom contacted me last night via e-mail.

The e-mail reads:

I am very worried and concerned of who might purchased the loan book and as to the possibilities of losing protection from the Central Bank as offered to all mortgage holders in IRELAND. I am concerned that whoever might purchase them will have carte Blanche to increase interest rates on us already struggling to meet our monthly repayments and stay in our homes. I also find it quite disingenuous that the Minister for Finance and IBRC can offer huge Financial discounts to multimillionaires to purchase the commercial loan book but the tax paying working class must just shut up and carry on with there contractual agreement with the IBRC until it's sold to some vulture fund.

Perhaps the Minister would repeat what he said.

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