9 Oct 2018, 12.42
Permanent TSB’s sale of some 10,700 mortgages will be examined on Thursday by the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach.
The meeting at 11.30 a.m. in Committee Room 2 can be viewed live here and on Android and Apple devices using the Houses of the Oireachtas app.
The main witness is Permanent TSB Chief Executive Jeremy Masding.
Permanent TSB’s €1.3 billion sale of its Project Glas portfolio to Start Mortgages has intensified the political debate over whether banks in majority State ownership should sell mortgages to other financial institutions, either regulated entities or unregulated private investment funds.
“Households across Ireland are fearful that sales of mortgages from one institution to another could lead to more eviction orders or less favourable terms by a new creditor,” said Committee Chairman John McGuinness TD. “The Committee looks forward to discussing with Permanent TSB the business rationale and terms of the sale as well as what consumer safeguards exist for the homeowners involved.”
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