Worrying times ahead for 10,000 mortgage holders as PTSB confirms non-performing loans sale will go ahead – TheLiberal.ie – Our News, Your Views
August 14, 2018

Worrying times ahead for 10,000 mortgage holders as PTSB confirms non-performing loans sale will go ahead

image

Mortgage holders at Permanent TSB have been left with further worries this morning after the bank confirmed that the sale of 10,000 loans will go ahead.

The much expected confirmation of the sale comes after executives from the bank Met with representatives from the Irish Mortgage Holders Organisation on Wednesday.

However despite lengthy negotiations between the parties, PTSB confirmed that the sale will go ahead despite strong objections.

The controversial sale which includes the sale over 1,000 preforming loans will now put increased pressure on loan holders as they will be most likely be sold off to a vulture fund.

It is understood PTSB have to decided to offload the loans in order to reduce its bad debt to meet European Central Bank guidelines.

Share this story

Get the latest news from TheLiberal.ie via Facebook.
Just click Like

Tell us what you think on our Facebook page