Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I am pleased to propose this motion, which deals with the issue of standard variable mortgage interest rates, on behalf of my colleagues in Fianna Fáil. My party's view is that excessive variable mortgage rates are the primary financial challenge for thousands of families throughout the country. This is an issue of money in people's pockets. What is happening at the moment can only be described as a rip-off. The bottom line is that thousands of families are being exploited by virtue of the standard variable mortgage rates that their banks are charging them.

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