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

Yes, but in the majority of cases, those inhibitions do not apply. However, there is a very significant inertia in the desire of people to switch to a different mortgage provider even when they can make significant savings. It is hard to understand this at times and probably is to do with the fact that if people have a mortgage for several years, even if they are to make cash savings, they do not see the purpose of switching. There is an inertia in the system and the various mechanisms have now been put up online to help people who wish to switch to do so.

On the general review of the banks, I met the banks twice. This is an ongoing issue and as I meet the banks in the future, if I am back in office, this will be a high priority on the agenda of any meeting with the banks.

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