Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I welcome the fact that Permanent TSB is still around. It is extremely important for the Irish banking market to have as many competitors as possible.

Let us compare the interest rates of Permanent TSB with those in the UK. For a loan-to-value ratio of about 70%, the bank is charging about 4.25%. A similar institution in the UK is charging less than half of that, at 2.19%, even though the Bank of England rate is higher than the ECB rate. I believe that is down to a lack of competition in the market. How does Capital Home Loans, Permanent TSB's business in the UK, compare? What does it charge as a standard variable rate for a loan-to-value ratio of 70%?