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

The bank wrote to them several times and it is on their annual mortgage statements. We need to bring this to people's attention because a significant number of mortgage holders are paying more than they need to. I would argue that they should be paying an awful lot less than they are at 4.5%. Even without switching bank, they can get an immediate reduction in their mortgage. Is the bank still paying for valuations for people who are moving to the MVR for the first time?