Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

The Central Bank is not talking about retirement dates. It is talking about schedules of 25 years to 30 years. If people take out mortgages in their early 20s, they should have them repaid by the time they are in their 50s, at which time they have another big bill coming down the road, namely, the cost of third level education for their children. If one is in a 35-year mortgage, one is not even halfway through it at the stage when bills for third-level education arise. There is a life cycle to the type of financing people have in adulthood.