Arthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source

Ultimately, the cost of housing is going up which is improving the share price of the banks. However, this is all to the detriment of those who want to get on the housing ladder, particularly for first-time buyers who are down to 80% LTV, loan-to-value, ratios as opposed to the 100% RBS, Royal Bank of Scotland, introduced back in the day.

I am pressing upon Mr. Brown the need for Ulster Bank to give more money to site finance. I have worked in this area in the past and I accept some of the lending then was over the top. Ulster Bank’s 10% of lending to this sector is going nowhere towards meeting current demand, however.