Loan sale respite for split mortgage holders

Loan sale respite for split mortgage holders
Permanent TSB is withdrawing 4,300 mortgages linked to private homes from a controversial loan sale process known as Project Glas Pic:RollingNews.ie

Lender will continue to engage with the regulatory authorities on the classification and treatment of split mortgages

Permanent TSB has confirmed that it is withdrawing 4,300 mortgages linked to private homes from a controversial loan sale process known as Project Glas. The news will come as a relief for those mortgage holders who, during the financial crisis, entered into a split mortgage arrangement with the bank, whereby a percentage of the mortgage was ‘warehoused’, to be repaid at a future date.

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