Dara Murphy (Cork North Central, Fine Gael)
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On the changing of the hierarchy with respect to debt, will the Minister address the issue of whether there is a danger this will drive up borrowing costs? Fianna Fáil mentioned the issue of tracker mortgages, which arose earlier. The banks have a keen interest in seeing this issue addressed. However, these mortgages are a contract between borrower and lender and are not much different from other contracts such as those between landlord and tenant. When the Minister talks about warehousing of tracker mortgages, does he see any change in the contractual agreement that exists between borrower and lender? In other words, would it be possible to increase the cost of a tracker mortgage in some way in contravention of the contract that already exists?