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18,000 mortgage customers 'could face repossession' if IBRC loans sold overseas

by Gavan Reilly  13th Feb 2014  13:28
Today FM image

Fianna Faíl demands urgent consumer protection

18,000 struggling mortgage holders could face immediate repossession proceedings if their mortgages are bought by a foreign lender.

That's according to Fianna Fáil, which says the government needs to take urgent action to stop IBRC mortgage customers from being left without consumer protection.

It's published a bill which it says would give consumer protection to the former Irish Nationwide customers whose mortgage could now be sold overseas.

Its finance spokesman Michael McGrath says those customers are in urgent need of protection from the Irish authorities:

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