Permanent TSB defends mortgage sale plan

Permanent TSB defends mortgage sale plan
Permanent TSB says now is the time to deal with NPLs.

Bank says some mortgage holders have not engaged with it for more than seven years, adding that sale is 'normal practice' in other countries

Permanent TSB has defended its plan to sell a portfolio of mortgage loans, pointing to pressure from EU banking regulators to bring down its high level of non-performing loans (NPLs).

The plan has provoked a political storm due to fears that the loans could be sold to so-called ‘vulture funds’.

Fianna Fáil has indicated that it will not stand for the sale. Its finance spokesman Michael...

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