Oireachtas Joint and Select Committees

Wednesday, 17 April 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Bank Charges: Discussion with Central Bank and ISME

4:00 pm

Mr. Bernard Sheridan:

In theory, yes. In practice, that is possible. My concern with what the Deputy has said is whether the bank can demonstrate that it is making the mortgage more sustainable. That is what a bank is meant to do. It must try to resolve the arrears situation. Based on what the Deputy has said, it strikes me as a little odd that a bank would up its rate unless there are other circumstances involved.