Oireachtas Joint and Select Committees
Wednesday, 9 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB
1:05 pm
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
My first question is on the split mortgage product. We had Permanent TSB in here before this group. It told us, following my questioning, that interest is not accumulated on the warehouse portion of its split mortgage on domestic homes, family homes or principal dwelling homes or on buy-to-lets. Its statement was blatantly false and I have the documentation that proves that it charges in this circumstance. It shows that 4.1% of interest was charged on the warehouse portion that accumulates and is deferred until maturity is reached. Can the delegation present clarify that no interest is charged on buy-to-let split mortgages? Can anyone confirm that it is not deferred until maturity like Permanent TSB?
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