Stephen Donnelly (Wicklow, Independent) | Oireachtas source

Earlier somebody asked why Bank of Ireland has 81 split mortgages compared to Permanent TSB's 3,955 and Mr. Mason said the split mortgage is not affordable for many of the bank's customers. If the bank takes somebody's mortgage at 2.25%, splits the two pieces of capital in half and charges the same interest on both, there is no financial change for the customer. It is unaffordable because Bank of Ireland's split mortgage is completely meaningless.