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

I welcome that commitment and I think it is an area where we all need to be doing more. On pricing generally, and I have had this debate with Ms McDonagh before, even Bank of Ireland's fixed rate offer is not risk based. The bank does not do risk based mortgage pricing. We were always told that the price of the mortgage was commensurate with the risk yet Bank of Ireland has gone with a flat 2.9% across the board, no matter if I have only a 30% loan to value or I have one that is 90% or 95%. Why is that? I thought it was a cornerstone of banking that the price of the product was relative to the risk.