Oireachtas Joint and Select Committees

Thursday, 8 December 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland

9:30 am

Mr. Bernard Sheridan:

We have highlighted this concern. First, one's terms and conditions have not changed, so if a customer keeps up his or her repayments there should not be an issue. If one falls into arrears, one has the protections in place as if one was a customer of a bank. The issue is around other treatment, for example, the interest rate. We have less visibility of exactly what those loan owners' strategies are.