Oireachtas Joint and Select Committees

Wednesday, 12 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Permanent TSB

3:15 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Mr. Mitchell answered a question earlier about the tracker portability product. He indicated that only 97 customers had moved to it. I know that it is a relatively new product and it is the most attractive product, of which I am aware in the market. I think Permanent TSB should put some money behind marketing it. It has 57,000 customers with tracker mortgages, many of whom are living in unsuitable homes - they might have young families who are still living in apartments. Permanent TSB is willing to offer the product to people in negative equity in certain circumstances.

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