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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Where did that information come from?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: What the witnesses are saying regarding the portfolio that Permanent TSB sold is that Start Mortgages may offer options that are better than those offered by Permanent TSB. They are saying that there is proof available that they offer solutions which include write offs. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: That is correct.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Whatever way one wants to phrase it. The witnesses constantly refer to the taxpayer and the best deal for the Irish taxpayer. The bank has sold off thousands of loans and some mortgage holders may end up losing their homes. There may be a tsunami of repossessions, in spite of what the witnesses say. These very same people will then end up on housing waiting lists, looking for homes to be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: That is the total figure. Out of that 1,800, sales have been agreed on 330. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Reference was made to a figure of 500. To what did that relate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: There are 408 properties being prepared. Did the Government buy any of those 1,800 houses?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: The Government has bought none of the houses in the stock to which we are referring. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: The Government has not looked at the 330 properties for which sales have been agreed and it has not bought properties

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: How does Mr. O'Sullivan maintain that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Did Senator Conway-Walsh want to come back in on this issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Can Mr. O'Sullivan provide a breakdown of where they are located?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Can one be provided later?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: I also asked a question about court cases. Can Mr. O'Sullivan give me a breakdown of where those cases are based, for example, 20 in Kilkenny and so forth?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Not the restructured agreement?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: I will give the deputation a sense of the response from the public when we do that. I will outline a case that touches on the point. I am not going into detail but I want you to understand the effect it has. A borrower who was with Permanent TSB for the past ten years got a letter from the bank at the beginning of August saying the mortgage had been transferred. The borrower fell into...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: You might provide a spreadsheet of general information on that, if you can, Mr. Masding.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: You might let us have the basis of that, Mr. Masding. What we are asking for is a generalised set of figures.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: I would appreciate if you would not mind going back.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: You gave a "No" answer to most of the questions today rather than a "Yes" or rather than even being informative. I am asking you to facilitate Deputy Burton by allowing the committee the extent of the information that you can give us relative to the question that she asked. We will finish up now.

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