Gerard Craughwell (Independent)
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I will go back to the issue of tracker versus variable mortgage rates. Mr. Masding should correct me if I am wrong. One could have two next door neighbours working at exactly the same job, in exactly the same value home, with exactly the same mortgage, with one on a variable rate and the other on a tracker rate, and the difference in repayment could range to several hundred euro per month, which suggests to me that over the past six or seven years the banking sector, Mr. Masding's bank being part of it, has chosen to lean its recovery on its most loyal customers, the ones who were there with them before the boom. They have continued to increase the rates, although I accept that Mr. Masding's bank has reduced its slightly in recent times. Where does equity fit in this? Where is the customer in the middle of all of this? Is it something Mr. Masding has considered or does he not care? Is it the case that we are digging him out of a hole and the banks have decided to keep their heads down, keep the hatches battened down, say nothing and hope nobody notices?