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

That clarifies the position. I have put a particular question to the representatives of the other banks who came before us and I will now put it to our guests. The LTV requirement varies between the institutions. In Bank of Ireland's case it is 90%. It has been suggested to me that a particular practice is developing and I would like to know if it has gained traction within Bank of Ireland. Let us consider circumstances where a house is for sale of €200,000 and the person who wants to buy it cannot either satisfy the LTV requirement or come up with the deposit, which would be €20,000. Not too many people have that kind of money on account at present. In light of the significant increase in rents, it would be extremely difficult to save that amount. It has been brought to my attention that what is happening within some financial institutions is that the valuation of the property listed on the application is being increased to €220,000 and this means the mortgage can be granted because the LTV requirement has been met. Is that type of behaviour occurring within Bank of Ireland?