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

I wish to raise the issue of mortgage rates. Almost a year ago - in June 2018 - Ulster Bank announced the lowest rate on the market, namely, a two-year fixed rate of 2.3%. How has that gone for the bank? Has the bank promoted it sufficiently? It is a two-year offer, so it is not long term. At the time, however, it was by some distance the lowest rate on the market. I believe it still is the lowest even though others are coming closer to it. I had hoped that it would start something of a price war in mortgages, although our guests might not have welcomed that. Is Ulster Bank getting a return from it? Is the bank winning new business on the back of that rate?