Rose Conway Walsh (Sinn Fein)
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I have to move on, but I find it very distressing that this systematic robbery has happened across the board and nobody anywhere noticed. I refer to people getting paid multitudes of pensions. The mind boggles. It is criminal. There is no other word for it.

On the buy-to-let mortgages that were in arrears and the 1% surcharge, does Ms McDonagh admit that, as a matter routine, Bank of Ireland applied a 1% surcharge to buy-to-let mortgages in arrears? I remind Ms McDonagh what different bodies said about that. The Financial Services Ombudsman, Mr. Ger Deering, told the committee that the policy "sounds wrong on the face of it". The Minister for Finance told my colleague, Deputy Doherty, "the practice to which the Deputy was referring on which he has had information made available to him, should not have occurred. It is another example of the appalling way in which this matter developed and has since been handled." The Central Bank said this can only be done if the alternative repayment arrangement "is affordable for the borrower; and is a long-term sustainable solution which is consistent with Central Bank of Ireland policy on sustainability."

However, based on Bank of Ireland's reply to the questionnaire, it seems to stand over the policy. Is it Ms McDonagh's contention that it was okay because they were not family homes but buy-to-lets? Has the Central Bank been in contact with the witness on the issue?