“The Dáil should be recalled immediately” – so says one Carlow Kilkenny TD following Ulster Bank’s announcement that it’s selling more than 5,000 non-performing mortgages to a US vulture fund.
The sale to Cerberus is worth €1.4 billion and the bank says all of the home loans are in ongoing arrears.
In a statement, the bank insist mortgages that are being paid on time won’t be affected, nor will people who have engaged with the bank on an arrangement.
Affected customers will be contacted and given 90 days notice of the sale.
Deputy John McGuinness Chairs the Oireachtas Committee on Finance & he’s been telling KCLR News that he believes the Dáil should be recalled immediately to debate this and to decide what action the Govt can now take with banks that it either has a share in or owns to a large degree.
He added “this cannot continue because it will destroy Irish society for generations to come”
