Deputy Pearse Doherty claims it is a better result for mortgage holders 

Sinn Féin's finance spokesman Pearse Doherty TD has welcomed the removal of 4,000 split mortgages from the sale by PTSB of thousands of its loans.

The Donegal TD said it was "proof that political pressure can bring about better results for mortgage holders".

But he warned that "serious questions remained about how Permanent TSB’s split mortgages fell afoul of the ECB rules, while those of other banks didn't".

Donegal TD Pearse Doherty.

Deputy Doherty said: “I am glad to see these 4,000 split mortgages removed. I reiterate my opposition to the sales process in totality especially the sale of any family homes to vultures.

"Political pressure has seen 4,000 removed, the rest should also be taken off the market and treated by the bank.

“Matt Carthy MEP and I will continue to question the ECB on its approach but it is clear to me that the root of this problem was Permanent TSB’s own split mortgage product design.

"Unlike AIB's product the ECB found fault with the Permanent TSB product deciding it should effectively count as a non-performing loan.

“My parliamentary questions about who provided technical or legal advice to PTSB on this product have been met with a wall of silence. That is unacceptable. Once again accountability seems out of reach.”

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