Tánaiste Simon Coveney has told the Dáil that the sale of home loans to vulture funds will not affect the contractual rights of homeowners.
Speaking during Leaders’ Questions, Mr Coveney said he accepted that people are concerned as to who is going to be managing their loans, and who they are going to be talking to in terms of their debt.
However, he said loan sales do not require the consent of the Minister for Finance.
"There is a significant onus on the Central Bank to ensure that when loans are sold that the contractual rights of the mortgage holders continue to apply," said Mr Coveney.
"In any loan sale it is important to highlight that the contractual terms between borrowers and lenders still apply.
"Mortgage holders still have the same rights regardless of who owns the loan book."
The issue was raised by Fianna Fáil TD Dara Calleary, who said that 20,000 families with PTSB home loans face an uncertain future following news that mortgages may be sold to vulture funds.
He said such funds are "aggressive in dealing with borrowers, and aggressive in causing mental and physical distress".
"They get away with it because there is no regulation," he said.
Mr Calleary added that the Oireachtas Finance Committee has sought to get these people into the committee "but virtually all of them have declined to account for their actions".
He pointed out that the Government owns 75% of PTSB and is the main shareholder with the bank.
