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

I refer to something Ulster Bank put up yesterday afternoon. If somebody borrows €150,000 or €200,000, they are not actually borrowing €200,000 because the payback is far greater than that over a 25 year or 30 year schedule with the interest added. Would it not be a more sustainable approach for people on variable interest rates as opposed to tracker mortgages to get an interest rate reduction, which Ulster Bank is offering, as opposed to going into a split mortgage arrangement?

While there is a more significant advantage if one is on a tracker mortgage, if one is on a variable rate mortgage, the rate even on the split side that is active can be quite high.