Joan Burton (Dublin West, Labour) | Oireachtas source

It is a brief question and follows from some of the points raised. First, we have been advised that the average loan value in the context of our discussion today is €175,000. Second, we have been advised that the average arrears time of the loans is three and a half years. Third, we have been advised that the average arrears value is €28,800. The bank is telling us this is a management process. Many of us are struggling to understand this from the bank's perspective. Would the bank officials be kind enough to get us details on the highest-value loans in the top category? Are there people who are in arrears to the tune of more than €50,000 or €100,000? What are the lowest values?

The committee has received letters, which the Chairman has passed on to the bank officials, showing that particular loans have no arrears at all. In an earlier conversation with the Chairman and others the Permanent TSB officials said the same person may well have another loan. If someone has no loan arrears on the family home but has a business situation or a buy-to-let loan, as referenced earlier by Mr. Crowley, it is quite unfair to undermine the security of the family home that is being repaid. It is not an unreasonable tactic for a family with several loans to say they will prioritise the family home to ensure it is secure. It is reasonable to decide to repay all of that and perhaps have another loan from the bank that is related to a tracker mortgage or development land. Again, it is a question of moral hazard. The moral hazard at the moment rests with families losing homes. When a family loses the home, there are no easy alternatives in most of Ireland to replace that home and no easy alternatives in most of Ireland in terms of finding a rental property at a reasonable cost to allow a family to rent. Can the bank officials go behind the figures that have been made available on the averages? An average arrears value of €28,800 seems rather low.