Irish Nationwide launches McCreevy loan probe
An investigation has been launched into how former Finance Minister Charlie McCreevy obtained a €1.6m loan from Irish Nationwide to buy a luxury apartment in the K Club.
Newspaper reports today say the mortgage from Nationwide was granted with minimum paperwork and despite the fact that the home was worth €100,000 less than the amount at the time.
The loan was granted by the then chief executive Michael Fingleton even though the society's own guidelines says it was not to grant 100% mortgages.
Irish Nationwide says it wants to establish the circumstances surrounding the loans, and had therefore launched an investigation.
