Dáil Éireann Debate, Thursday - 15 January 2026
314. Deputy Peadar Tóibín asked the Tánaiste and Minister for Finance the mechanisms in place or that are being considered to ensure that any mortgage agreement between a customer and a financial institution cannot be sold on without all parties’ consent. [2990/26]
Amharc ar fhreagraCreditors have the general right to assign, or sell the benefits and rights, under a credit agreement to another creditor.
When a creditor's benefits under a credit agreement are sold to another entity, the debtor's obligations and rights do not change. The terms of the agreement at the time of the assignment remain in place.
The entity which acquires the legal rights of a creditor under a credit contract with a consumer, or which services such an agreement, is within the regulatory remit of the Central Bank of Ireland. Accordingly, the Central Bank's consumer protection codes, including the Code of Conduct on Mortgage Arrears, continue to apply.
If a consumer is not satisfied with the way a regulated firm is dealing with them, or if the firm is not complying with regulatory requirements, I would urge the consumer to make a formal complaint directly to the regulated firm.
If the consumer remains unsatisfied, they can then refer the complaint to the Financial Services and Pensions Ombudsman.
