Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Again, to put on the record as we did the last time, all of those 46,700 mortgage accounts on a SVR of 4.5% can get a reduction immediately by moving on to the MVR. The reduction is a minimum 0.2% or 20 basis points. Many of them actually have a low enough LTV but never bothered to avail of the MVR about which the bank wrote to them.