Oireachtas Joint and Select Committees

Wednesday, 14 September 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Issues: Discussion

Photo of Michael McNamaraMichael McNamara (Clare, Independent) | Oireachtas source

Mr. Kelly said 10% of the bank's customers are on variable rates and the other 90% are on fixed rates. For a variety of reasons the bank prefers fixed rates. The fixed rates are lower and it is obvious. What percentage of people who take out a new mortgage are on variable rates?

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