Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Some split mortgages. I will ask three questions together, which the witnesses should ponder and then answer. Mr. Burgess argues that some people should not get the mortgages and the taxpayer should not be picking up the bill. However, he also argues that in cases in which someone could pay interest only, this should continue. A split mortgage comprises the parking of a part - it could be all of the capital, although that is unlikely. However, in a split mortgage, for example, one would have a situation in which a mortgage holder would be paying interest only and the capital would be parked. In his submission, however, Mr. Burgess for the most part has argued that anyone who can pay interest only should be afforded that option and it should be deemed to be sustainable. In essence, this is what a split mortgage could be. Consequently, I ask him to think about that. The point I am making is that a split mortgage does not write down the debt, so how could it be at the expense of the taxpayer?