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02/04/2014

Sale Of IBRC's Mortgages Is Putting Homes At Risk - Doherty

Sinn Féin Finance Spokesperson Pearse Doherty TD has said the decision to go ahead with the sale of 90% of IBRC's mortgage loan book is putting homes at risk.

Deputy Doherty said: "There is no need to for this sale to proceed before the legislation being prepared can be implemented. The Minister has the power to delay the sale so that the Dáil can pass an Act giving the same protection to IBRC mortgage holders as any other mortgage holder.

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"The sale of the loan book to foreign vulture funds will worry many. A verbal commitment by these companies to abide by the Code of Conduct is of no legal value.

"Minister Noonan knew the only way to ensure homeowners at IBRC were protected was to delay this sale. He refused to intervene and has therefore put homes at risk."

(CD/JP)

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