Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Obviously the European Central Bank has signalled a number of other interest rate hikes. There are obviously people who can switch. They are in the claws of the vultures. We try to send out a message to them to get advice, to go to the Money Advice & Budgeting Service and the Irish Mortgage Holders Organisation, and look to see what their options are. I was just looking at some of the numbers. Mr. Byrne is a former Permanent TSB customer. The variable rate in Permanent TSB is 3.9%, compared with 7.25%. People with a €340,000 loan over 20 years would pay €146,000 more in interest with a vulture fund than they would if their loan was not sold, if rates remain the same. It is a massive amount. The message is clear that people should try to switch. Mr. Byrne is one of the people who tried everything to switch.