Dáil Éireann Debate, Thursday - 2 June 2016
139. Deputy Michael McGrath asked the Minister for Finance if he will consider requiring the new owner of a loan to inform the borrower of the price the new owner paid for the loan and the portfolio of which the loan forms part, in cases where loans have been sold on by the original lender; and if he will make a statement on the matter. [14146/16]
View answerThe sale of a loan from one entity to another does not change the terms of the contract or the borrower's rights and obligations under the original contract.
The amount outstanding on the loan is not changed.
Generally speaking, the price paid for a portfolio to which a loan belongs is a matter of considerable commercial sensitivity and is not revealed in a manner which would allow the identification of the price paid for the individual loan.
