Sale of over 10,000 Permanent TSB loans to go ahead

The sale of over 10,000 PTSB non-performing loans to a vulture fund will go ahead as planned.

A meeting between executives from the bank and the Irish Mortgage Holders Organisation ended a short time ago.

Concerns were raised that around a thousand homeowners were engaging with the bank and their loans were included in the sale.

However, CEO of the IMHO, David Hall has confirmed the sale will still go ahead despite today's meeting.

"The sale is going ahead. There's no returning, the deed is done," said Mr Hall.

"They will work through the loans and start handing them over to start mortgages over the next 60 days.

"So I think it is a bitter pill for many customers of theirs who have been in touch with us in recent days in their hundreds."

Just finished meeting PTSB. Loan sale is proceeding. No interest in removing any customers even those who are meeting their restructured amounts . Urgent need for political leadership to protect customers from vultures!

— David Hall (@davidhall75) August 8, 2018

Digital Desk