Permanent TSB are unable to appoint receivers to troubled buy-to-let properties: report
Permanent TSB cannot appoint receivers to troubled buy-to-let properties due to an issue with mortgage contracts.
According to a report from RTÉ News, Permanent TSB (PTSB) will have to go through a lengthy courts process in order to repossess investment properties.
The report also says that PTSB customers will face delays in ridding their properties due to a review of mortgage contracts which the bank is currently carrying out.
In order for PTSB to appoint a receiver to one of its 3,500 torubled properties it may have to go through a legal process that could take several years.