It would be highly unusual for any bank to take on negative equity mortgages from another institution. In reality, the negative equity portion is essentially unsecured debt which would necessitate a risk premium in the form.of a higher rate than a typical mortgage interest rate on the unsecured portion; unsecured debt can often command rates as high as 10%. It may be an attractive proposition from a political piint of view, but is unlikely to be considered commercially viable from the perspective of an existing Irish lender.