Mr. Padraic Kissane:

As someone who was challenged on tracker matters and what the contract said and did not say, I am talking about reading the contract from the consumer's view. I have only just printed what the conditions state in the appendix. It tells me that the question should at least be answered. Nobody has given me a reason that the vulture funds cannot offer fixed rates. There is little point in getting a vulture fund to say it will offer fixed rates but they will be set at 14% for a five-year fix because of the risk of the investment they had to make, and so forth. I am not certain their funding requirements or sources are the same as mainstream banks and I am challenging that as well. I am nearly at a stage today of raising questions without having all the answers. I did not have all the answers back then but once the investigation starts, I say to myself that I have only looked at the terms and conditions. The policy of any transferee shall be the same as that of the relevant lender, that is, AIB. The setting of mortgage interest rates following such transfer will be the same as the lender's general policy, that is, Bank of Ireland. Permanent TSB shortens it very simply by providing that Permanent TSB "may at any time transfer the benefit of the Agreement and the Mortgage to any person in accordance with the Mortgage conditions." I am not saying that I am going to stand in a court and win all those cases but I certainly believe it could be argued.