Oireachtas Joint and Select Committees
Thursday, 14 June 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Matters Relating to the Banking Sector: Permanent TSB
9:30 am
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
I understand that the bank underwrites at a point in time. However, the risk of those particular mortgages reduces over time as they move down the LTV band. The value of the home goes up and the mortgage is reducing, and, therefore, the risk to the bank falls and its security improves.
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