Dublin South West TD, Se\u00e1n Crowe, has described Permanent\nTSB\u2019s sale of nearly \u20ac300 million worth of loans, including 1,422 private\nhomes, to Start Mortgages and their US affiliate Lone Star, as unacceptable and\nwrong.<\/p>\n\n\n\n
The Sinn F\u00e9in TD said the PTSB, of which the Government is a\nmajority shareholder, has taken the easy option rather than find long-term\nsolutions with families. He called for the prioritisation of Sinn Fein\u2019s \u2018No\nConsent, No Sale Bill\u2019 which would ensure banks could not sell mortgage loans\nwithout the consent of the borrower.<\/p>\n\n\n\n
Deputy Se\u00e1n Crowe said:<\/p>\n\n\n\n
\u201cUnfortunately, Permanent TSB are yet again opting for the easy option by selling out Irish families to the vulture funds. There are thousands of families who have faced or are facing the sale of their loans to vulture funds and the government is doing nothing to stop it.\u00a0<\/p>
\u201cThis sale by PTSB follows the sell-off of over 10,000 family homes by the bank to the same fund last year.<\/p>
\u201cNo loan is safe under the current rules. Sinn Fein\u2019s \u2018No Consent, No Sale\u2019 Bill must be prioritised immediately to protect consumers and families in the face of further sell-offs.\u00a0<\/p>
“This legislation would ensure that banks cannot sell on loans without the consent of the borrower. Unless this bill or similar legislation becomes law, families will continue to fall prey to the vultures.<\/p>
\u201cThere are alternatives to\u00a0this great Irish sell off. Banks like PTSB\u00a0can work with borrowers rather pursue a sell off of Irish assets and their sell-out of Irish families and tenants.<\/p>
\u201cAttempts by Fine Gael and Fianna F\u00e1il to obstruct the passage of the No Consent Bill only empowers the banks and emboldens the bad behaviour of vulture funds at the expense of families.<\/p>
\u201cThis latest sell off is wrong and unacceptable. It is another new low for PTSB and appalling news for customers, tenants, and distressed home borrowers.\u201d\u00a0 <\/p><\/blockquote>\n\n\n\n
ENDS<\/p>\n","protected":false},"excerpt":{"rendered":"
Dublin South West TD, Se\u00e1n Crowe, has described Permanent TSB\u2019s sale of nearly \u20ac300 million worth of loans, including 1,422 private homes, to Start Mortgages and their US affiliate Lone Star, as unacceptable and wrong. The Sinn F\u00e9in TD said the PTSB, of which the Government is a majority shareholder, has taken the easy option […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[184,42,400],"tags":[],"class_list":["post-3933","post","type-post","status-publish","format-standard","hentry","category-banks","category-housing","category-vulture-funds"],"_links":{"self":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/comments?post=3933"}],"version-history":[{"count":1,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3933\/revisions"}],"predecessor-version":[{"id":3934,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3933\/revisions\/3934"}],"wp:attachment":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/media?parent=3933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/categories?post=3933"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/tags?post=3933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}