Dáil backs SF bill on residential mortgage sale consent

Bill proposed by Sinn Féin finance spokesperson Pearse Doherty

The Dáil has voted in favour of a proposed Sinn Féin bill to restrict banks from selling residential mortgages without the written consent of the borrower.

The Dáil voted by 80 votes to 45 to allow the "No Consent, No Sale Bill 2019", proposed by the party's finance spokesperson Pearse Doherty, to proceed to committee stage.

The bill seeks to make mandatory what is already in the Central Bank code of practice.

It was reported that the Central Bank warned the Department of Finance that the bill could trigger unintended consequences, such as an increase in interest rates.