'Remarkable casualness' to sale of permanent TSB mortgages to vulture fund
The Minister for Finance Paschal Donohoe has been accused of having a casual attitude to the sale of thousands of Permanent TSB mortgages to a vulture fund.
The bank says the loans were 'non-performing', but the Irish Mortgage Holders Organisation says more than 1,000 mortgage holders are engaging with the bank.
The organisation has been invited to meet with PTSB executives in Dublin later, where it will be calling on the bank to cancel the sale in cases where people are still making payments.
Mr Donohoe says people whose mortgages are sold to vultures continue to have legal protections.
David Hall, who is the CEO of the Mortgage Holders Organisation, says that is not the case.
"There's a remarkable silence from government given the size and scale of the sale of [mortgages] to vulture funds by a bank 75% controlled by the State," he said.
"There's a remarkable casualness around what's happening, and also the Minister has indicated that protections will follow, protections don't follow in circumstances where there are no protections."
Many engaged and are meeting restructure agreed with PTSB, why do PTSB define these still non performing and have sold them? Why encourage customers to engage earlier this year,give restructure and sell them?
— David Hall (@davidhall75) August 8, 2018
