Dáil Éireann Debate, Wednesday - 18 September 2013
212. Deputy Pearse Doherty asked the Minister for Finance the connection Springboard Mortgages has to Permanent TSB; if he will confirm that Springboard offered sub-prime mortgages; and the number of these mortgages remaining in operation. [37946/13]
View answerI am informed by Permanent TSB that Springboard Mortgages Limited is a wholly-owned subsidiary of Permanent TSB plc. Permanent TSB has informed me that Springboard Mortgages Limited operated as a specialist mortgage lender which provided finance to people who fell outside the credit criteria of traditional banks and building societies. Permanent TSB informs me that new lending by Springboard Mortgages Limited ceased in 2009 and the portfolio is now managed by the non-core division of Permanent TSB Group. I am informed by Permanent TSB that there are approximately 2,200 active accounts in operation.
