Michael McGrath (Cork South Central, Fianna Fail)
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52. To ask the Minister for Finance if the Irish Bank Resolution Corporation mortgage holders whose mortgages are currently still with IBRC will get an opportunity to bid for their own loans; and if he will make a statement on the matter. [19868/14]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, NAMA will not now be obliged to purchase unsold IBRC assets at their independent valuation as previously envisaged.

The Special Liquidators will now devise and manage a further sales process in respect of the unsold residential mortgages in a manner that maximises the return to all remaining creditors of IBRC, including the State.

This process is being finalised however the Special Liquidators will be writing in the coming weeks to borrowers with unsold loans to inform them of the further sales process in respect of their loans.