Oireachtas Joint and Select Committees
Wednesday, 4 September 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of Financial Sector: Discussion with Bank of Ireland
10:45 am
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
I will allow the members to try to drill down into these figures. I will raise a couple of issues before calling on Deputies Michael McGrath, O'Donnell and Doherty in sequence.
Bank of Ireland is applying a different type of split mortgage to those offered by most of the other financial institutions. When a mortgage is split by other financial institutions, the interest and capital are warehoused for a specific period. The interest is not warehoused in Bank of Ireland's split mortgage and it remains on the live part of the debt. Why is Bank of Ireland taking that different approach?
No comments