Oireachtas Joint and Select Committees
Thursday, 5 October 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector in Ireland (Resumed): Ulster Bank
9:30 am
Mr. Gerry Mallon:
Yes, as part of the credit approval process for mortgage approval we take the customers through an affordability calculation in which we will talk them through not only those elements but all the other elements of their underlying finances to understand what they can afford. A stress is put on that as well. If we assume that interest rates vary, we will calculate on the basis of that and test the customer's future affordability.
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