Oireachtas Joint and Select Committees

Tuesday, 30 January 2018

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

Tracker Mortgages: Bank of Ireland

7:10 pm

Mr. Stephen Mason:

Under the terms of the contract, if the bank could not fund itself at certain rates, it could change the terms and conditions. When it found itself unable to fund itself at the rates in question, it changed the terms and conditions. It would have told the customer what it was doing and why it was doing it. The bank would have tried to make alternative arrangements with the customer at the time.

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