Loan sale respite for split mortgage holders
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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