Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The question related to doing what Deputy McGrath suggested for people who are moving quite a distance from their own locality to get a job so it was not just moving from an apartment to a house in the same locality. There are many considerations before people move, such as children in school and proximity to relatives. There is a case to be made but I suppose the Deputy knows why the banks are unwilling to concede to this. They are losing money on all trackers because the interest rate is so low and they would like to be rid of them. If somebody decides to move house and has to take out a new loan, they will take out one with a variable interest rate. It is very difficult to tell the banks they should not do this because trackers are loss makers. Perhaps there is some via media the banks should look at.

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