Dáil Éireann Debate, Tuesday - 26 November 2013
169. Deputy Clare Daly asked the Minister for Finance if he will ensure in regard to Irish Bank Resolution Corporation mortgages that any purchaser only changes mortgage interest rates in line with changes in the ECB rate to prevent a potential purchaser from hiking up rates to unsustainable levels. [50356/13]
View answerI have been advised by the Special Liquidators that the contractual terms and conditions of mortgage customers have not changed as a result of the appointment of the Special Liquidators nor will they change on the sale to a third party. As the sale process for this portfolio has yet to be completed it is not possible to speculate on what the potential intentions of the ultimate purchasers of the loans may be but any party that acquires the residential mortgage book of IBRC (in Special Liquidation) will be obliged to comply with the contractual terms and conditions of those loans.
