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

Moving on to specific operational matters, I submitted a parliamentary question recently relating to the rent-to-buy programme and the response was interesting. It stated that more than 60 cases were currently being processed under the mortgage to rent scheme, that one case had been fully concluded and a further eight were expected to conclude shortly. Anecdotal information I have got is that it is the sub-prime lenders who are engaging better with this scheme rather than the pillar banks. From what I know, the only one of these cases that has gone over the line and converted from mortgage to rent has been with a sub-prime lender.

This brings me to Ms Muldoon's comments earlier this evening accusing the banks of being in denial. If this is the case, it means the sub-prime lenders are not in denial, but are dealing with the reality of the market, but that the pillar banks are resisting and still have difficulty with regard to the real value of residential property. How many cases involving moving from mortgage to rent is AIB considering currently and how many of these does it expect to conclude over the coming period?