Mr. Padraic Kissane:

That is a separate issue. When people borrowed a deposit for a second house, while keeping their first, they took out an interest-only loan to supplement their pension or help repay their other mortgage. They were for periods of five, seven or ten years but when the interest-only period expired, people were told they had to give up their tracker rate if they could not adhere. Even though the margin was only increased by 1%, the loan is no longer a tracker but a variable rate which the lender can increase at will.