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

Only one financial institution has completed a mortgage-to-rent application and it is a sub-prime lender. From outside observation, this would seem strange because the sub-prime lenders are very much the pariahs of the sector. They seem to have a more realistic view of the property values. Mortgage-to-rent is critically about realising the true value of the property because it must be converted from a mortgage and sold to a housing agency, with the tenant who was previously the resident remaining in the property. Key to that is realising the real value of the property. Is Bank of Ireland struggling with that? Is Mr. Boucher of the view that property prices in the residential sector are approaching what might be considered normalisation, they are not undervalued and they are at their real value?