Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I would urge Bank of Ireland to review that product. In order to be fair to customers who are already in arrears or financial distress, if the bank is going to offer a split mortgage, it would be far more sustainable for the customers if interest did not accrue on the warehoused portion of the debt. I have dealt with individual cases where, when the interest on the warehoused portion is included, the split mortgage is not a viable product for the customer. I am surprised Bank of Ireland is providing the majority of split mortgages that have been taken up. Some of the people involved may not have had the best advice.