Oireachtas Joint and Select Committees

Tuesday, 23 January 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Tracker Mortgages: Allied Irish Banks

4:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I have seen many contracts and it would be very helpful if AIB could take out the personal details from some contracts and supply them to the committee so that we could be more familiar with them. I have seen letters of offer and contracts from the bank and it is clear that the letter of offer would be a tracker mortgage but there was an option to fix if the individual wanted to. The individual would fix for three years or so and the conditions in clause 3.2 were that after the fixed period it would be the prevailing rate. Is that the type of contract we are talking about for the 4,000 customers?

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