CODE OF PRACTICE ON THE TRANSFER OF MORTGAGES, VULTURE FUNDS IGNORE OUR LAWS.
1. A loan secured by the mortgage of residential property may not be
Transferred without the written consent of the borrower. When seeking
Consent from either an existing or a new borrower the lender must provide
A statement containing sufficient information to enable the borrower to
Make an informed decision. This statement, which must be cleared in
Advance with the Central Bank of Ireland, must include a clear explanation
Of the implications of a transfer (including the borrower’s future
Membership status where the lender is a building society) and how the
Transfer might affect the borrower.
By Thomás Aengus O Cléirigh
Owning ones home is a fundamental aspiration for every Irish citizen but the system we have to fulfil that aspiration is littered with traps to snare you into becoming a debt slave: The commercial banks have the right to screw you at every turn and they are not accountable to anyone! The law is incapable of bringing them to justice as we have all seen in the last six years! The whole country is now firmly in the hands of these unelected corporate criminals who can give themselves lottery salaries and can again bankrupt the nation whenever they will as the unfortunate citizens will again be forced to pick up the tab! The recent AIB AGM was again a good example of how business is done as the New chairman has blocked any enquire into the massive salary hike and pension entitlements he and his other leaches on the Banks board: As a ordinary shareholder tried to ask questions his microphone was turned off and the man was told to sit down! All this is happening right now and this toxic bank is supposed to be bankrupt and is now 98% owned by the same bewildered citizens of this BA-NAMA- REPUBLIC .!We will not get justice as long as the established political parties stay in control of the Dáil we need a drastic change of course and a new political dynamic where the citizens retain control of the real power and the corporate stranglehold on our democracy must be broken period!