Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

First, I will respond to Senator Burke's question. Yes, the Central Bank has calculated that 21% of mortgage holders would have savings if they switched, which is quite a high figure. To encourage switchers, there was a campaign late last autumn and there another from about March up to April of 2015 to encourage people to switch. A person with 20 years gone on 25 year mortgage who is dealing with the same crowd at very small money will not switch. There is a kind of an inertia in the system. Unless the savings are significant, people will not break with their traditional bank and that needs to be taken into account as well.

Since we started talking to the banks about these issues, many of them are now prepared to pay the switching costs. The new lender, the bank being switched to, is prepared to pay the switching costs. There are different offers across the banks. In talking to constituents, there are serious offers in the system which can save serious money and the receiving bank will pay the switching fee.

Will Senator Horkan remind me again of his question?