Peter Mathews (Dublin South, Fine Gael) | Oireachtas source

I will take up the point made by Senator Hayden. Huge stress is building up in respect of the buy-to-let mortgages and a problem will arise regarding the non-allowability of a certain portion of the interest on funding for portfolios that are in buy-to-lets. I ask the witnesses to make representations to the Minister for Finance and his departmental officials that this be reconsidered. A great many of these valid portfolio holders of residential property and so on, who have been in this business for a long time, are the tipping point of going bust. The interest on their loan funds is not allowed fully as an expense against the rental income. Rental income has shrunk, interest non-allowability against a shrunken rental income is causing deep problems and the taxation implication is that their liabilities are still there.