Michael McGrath (Cork South Central, Fianna Fail)
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Governor Lane is very welcome. I wish him well in his new role and congratulate him on his appointment. I will start with a domestic issue in terms of the new mortgage deposit rules and the loan-to-value and loan-to-income limits that apply to most mortgages. I put the case to him of somebody who is currently renting - an individual or couple - who may be paying €1,000, €1200 or €1,500 per month. People in such circumstances would find it impossible to save the required level of deposit and they are at a very serious disadvantage compared to somebody who is able to stay at home with his or her parents, for example, or somebody whose parents are able to help him or her come up with a deposit. Specifically on the issue of people who are paying rent, to what extent can the rules be reviewed to take account of people's track record in paying rent?