Written answers

Wednesday, 28 April 2021

Department of Enterprise, Trade and Employment

Competition and Consumer Protection Commission

Photo of Denis NaughtenDenis Naughten (Roscommon-Galway, Independent)
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140. To ask the Minister for Enterprise, Trade and Employment the status of the CCPC investigation into alleged mis-selling of mortgages in a matter (details supplied); and if he will make a statement on the matter. [21257/21]

Photo of Denis NaughtenDenis Naughten (Roscommon-Galway, Independent)
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141. To ask the Minister for Enterprise, Trade and Employment the investigations that are taking place into the allegations of the mis-selling of mortgages by an unlicensed mortgage provider in a matter (details supplied); and if he will make a statement on the matter. [21258/21]

Photo of Robert TroyRobert Troy (Longford-Westmeath, Fianna Fail)
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I propose to take Questions Nos. 140 and 141 together.

One of the primary functions of the Competition and Consumer Protection Commission (‘CCPC’) is to enforce consumer protection law in Ireland. For cross border consumer protection issues, the CCPC is part of the European Consumer Protection Co-operation (CPC) Network, which is comprised of national authorities responsible for enforcing EU consumer protection laws. This network protects consumers when conducting transactions across national borders, and allows consumer protection agencies to co-operate to resolve particular consumer issues. The CPC Network is central to addressing this matter, which involved the purchase by consumers of properties in France. These properties were developed, marketed, sold and managed by French traders under a French ‘Residence de Tourisme’ scheme devised by the French Government to provide tourist accommodation in France. Under the European CPC network, the appropriate authorities to conduct an investigation in relation to this matter are the French consumer protection authorities – Direction Générale de la Concurrence, de la Consommation et de la Répression des Fraudes (‘DGCCRF’).

The CCPC has engaged with the DGCCRF with respect to the issues highlighted by Irish property purchasers. The CCPC received complaints from Irish property purchasers and provided an initial preliminary assessment to the DGCCRF for over 150 complainants. Following consultation with the DGCCRF, the CCPC collated and transferred to the DGCCRF the transactional documentation of over 150 Irish property purchasers. The CCPC has and continues to provide significant time and resources to this matter and to supporting the DGCCRF investigation. In addition, throughout the period of engagement with the DGCCRF, whenever issues have been raised by Irish property purchasers, the CCPC has passed these on to DGCCRF and taken whatever additional steps requested by DGCCRF.

The DGCCRF are investigating the issues that were referred to the CCPC by the individuals involved. The primary focus of the CCPC is to continue to support the DGCCRF investigation through providing any assistance or information requested by the DGCCRF. The CCPC considers this matter as a high priority issue and one which we have dedicated considerable resources to. When DGCCRF have completed their investigation, the DGCCRF will provide to the CCPC, information on any potential concerns or infringements with respect to Irish agents identified during the course of their investigation. At that point, the CCPC will assess the information provided by the DGCCRF in order to determine whether there may have been a breach of consumer protection legislation by Irish traders. Following any such assessment, the CCPC will decide the necessary next steps.

In relation to the question of mortgages being sold by an unlicensed mortgage provider, there is limited information in the PQ to provide a comprehensive response. However, generally, I would point out that the authorisation of mortgage providers is a matter more appropriate to the Central Bank. Given the context of the query, it is also not clear whether the mortgage provider in question was an Irish operator or operating outside of the jurisdiction. The Central Bank may be able to provide further information in relation to the requirements of mortgage providers and the consequence of operating without a license. If the mortgage provider was based in another jurisdiction, the Central Bank may also be in a position to advise who the relevant financial regulator might be. The Central Bank has a page on its website where unauthorised firms can be reported. Link - .

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