Eamon Gilmore (Dún Laoghaire, Labour) | Oireachtas source

As I said, any announcement of an increase in mortgages is bad news for mortgage holders, about that there is no doubt or arguing, but it is important we stick to the factual situation. The Deputy said twice that the average increase is €800 a year but that is not the case. The average standard variable rate mortgage in the AIB is €128,000 which means that the increase will be €24 a month. It is bad news for the householders concerned but that does not amount to €800 a year. The average standard variable rate mortgage in the EBS is €102,000 which will mean an increase of €17 per month. Again is it bad news for the householders concerned but it does not amount to €800 a year. It is important that the Deputy sticks to the factual position.

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