Paul Connaughton Snr (Galway East, Fine Gael)

I seek the adjournment of the Dáil under Standing Order 32 to discuss the reluctance of the Government to direct the banks and the building societies to introduce a realistic mechanism to allow the countless thousands of Irish mortgage holders to transfer their loans to variable or tracker mortgages in situations where they are locked into high fixed rate mortgages which, in many cases, are now up to 3% higher than the current variable rate, particularly given that the ECB base rate is now at 1%.

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