Dáil Éireann Debate, Tuesday - 8 April 2014
140. Deputy Stephen S. Donnelly asked the Minister for Finance further to the announcement of the special liquidators of the Irish Bank Resolution Corporation that they have agreed the sale of 64% of the €1.8 billion IBRC mortgage book, if he will confirm what the 64% refers to; if it is the par value, IBRC book value or a volume related figure. [16513/14]
View answer141. Deputy Stephen S. Donnelly asked the Minister for Finance further to the announcement of the special liquidators of the Irish Bank Resolution Corporation that they have agreed the sale of 64% of the €1.8 billion IBRC mortgage book, if he will confirm which sub-portfolios have been sold by the special liquidators. [16514/14]
View answer142. Deputy Stephen S. Donnelly asked the Minister for Finance further to the announcement of the special liquidators of the Irish Bank Resolution Corporation that they have agreed the sale of 64% of the €1.8 billion IBRC mortgage book, if he will confirm the consideration being paid for the disposal; the number of buy-to-let mortgages being sold; and the number of owner occupier being sold. [16515/14]
View answer145. Deputy Stephen S. Donnelly asked the Minister for Finance further to the announcement of the special liquidators of the Irish Bank Resolution Corporation that they have agreed the sale of 64% of the €1.8 billion IBRC mortgage book, if he will confirm the par value of the unsold mortgages that will now be transferred to the National Asset Management Agency and the price that will be paid by NAMA for said mortgages. [16518/14]
View answerI propose to take Questions Nos. 140 to 142, inclusive, and 145 together.
I have been advised by the Special Liquidators that the 64% refers to to the percentage, by par value, of the Sand residential mortgage portfolio that has been sale agreed with Lone Star and Oaktree Capital Management LP. It is currently expected that the remaining loans will continue to be prepared for transfer to NAMA. I am advised that the loans that have been agreed for sale consist of a mixture of PDH and BTL loans that are primarilly non-performing. The Special Liquidators will be writing to individual residential mortgage holders shortly, to provide information as to who their loan will be sold to and how it has affected their loan(s). Further information for mortgage holders is also available on the IBRC website at - http://www.ibrc.ie. I am advised by the Secial Liquidators that they will not be providing information relating to amounts paid for portfolios by third parties as this is commercially sensitive information.
