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

I am looking forward to the committee's consultation and its report on these matters. I do not think it is necessary for a mortgage insurance scheme to apply to the full life of a 25 year mortgage. It seems that if there was insurance for the first five years, things would be well settled thereafter. If someone has paid fully for five years, the likelihood of default thereafter will decrease in normal circumstances as their career moves on, they receive extra income and their family settles. It might not be necessary to have a 25 year insurance guarantee. I would like the committee to consider whether a starter guarantee would be appropriate.

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