Quarter of PTSB’s Glenbeigh loans still in negative equity

13th January, 2019

More than a quarter of the loans packaged up by Permanent TSB last year are still in negative equity, despite rising house prices.

New details of the loans that are being hived off by the bank in an entity called Glenbeigh Securities were revealed last week, in a credit ratings opinion issued by research firm DBRS.

The portfolio of loans in Glenbeigh comprises 12,605 mortgages valued by the bank at the time of the deal...

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