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

I wish to chase this issue, which I will be pursuing with all the banks. The concern is that one downside of seeing growth in home purchasing is that a bubble might be recreating itself again. In respect of loan-to-value ratios, is the LTV applied to the purchase price or the valuation? For example, were I to buy a house for €200,000 in the morning and were I to borrow €200,000, that would mean I was getting a 100% mortgage. However, if the valuation on the property is put at €220,000 and were I to borrow €200,000 to buy that house for €200,000, on paper that could appear as a LTV of 90%. Is Permanent TSB engaging in that type of practice?