Michael McGrath (Cork South Central, Fianna Fail)
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191. To ask the Minister for Finance if borrowers from the 6,272 mortgages to be transferred from a bank (details supplied) to a corporation have received correspondence or communication from the corporation; if there are restrictions in place to prevent it from communicating with impacted customers; and if he will make a statement on the matter. [54425/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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Permanent TSB has provided the following detail in relation to the communications process in answer to the Deputy’s question:

- The loans will continue to be serviced by Permanent TSB for a period of up to 6 months (from the date of the transaction). Permanent TSB will continue to be the contact point for customers during this period.

- After the transfer date (up to 6 months from the date of the transaction), impacted customer loans will no longer be serviced or owned by PTSB. Pepper Finance Corporation (Ireland) DAC (Pepper Ireland) will hold legal title to the loans. In addition, it will act as servicer and administrator handling all of the day-to-day management of these loans.

- Immediately following the completion of the transaction at the end of November last year, PTSB wrote to all customers whose loans are included in the transaction to inform them of this development.

- At least 60 days ahead of the transfer, PTSB will write to customers again providing formal notice of transfer, and following completion of the transfer, Pepper Finance will also write to customers to provide them with Pepper Finance contact details and any other relevant information relating to their specific loan agreement.