Mortgage Arrears Proposals

Dáil Éireann Debate, Tuesday - 26 March 2013

Tuesday, 26 March 2013

Questions (181)

Michael McGrath

Question:

181. Deputy Michael McGrath asked the Minister for Finance if he will ensure that the residential mortgage customers of Irish Bank Resolution Corporation in special liquidation will continue to enjoy the protection of the Central Bank code of conduct on mortgage arrears and other protections in Irish consumer law for the duration of their mortgage; and if he will make a statement on the matter. [14747/13]

Written answers

Minister for Finance

I have been advised by the Special Liquidators that the residential mortgage customers of IBRC (in Special Liquidation) continue to enjoy the protection of the Central Bank Code of Conduct on mortgage arrears and other protections in Irish consumer law. The Special Liquidators are currently devising and implementing a sale process in relation to the mortgage portfolio and while it is too early to determine who the ultimate purchasers may be I am advised that the Central Bank Code of Conduct applies to all regulated entities operating in the State with the exception of credit unions.