Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I welcome the idea that these two proposals would be put on a statutory basis and that lenders would have to offer them. It is David Hall's understanding that those were the two proposals agreed as part of the programme for Government talks. Can the Minister confirm that, at a minimum, these two proposals will be offered to all distressed borrowers? Can he also inform us of the advice he got from the Attorney General on this issue? He made a big play about the unconstitutionality of capping standard variable interest rates and how would that be addressed when property rights would be altered to ensure that lenders had to offer these products? Crucially, the Minister will know that different financial institutions offer different ranges or versions for split mortgages. Has he got a particular split mortgage in mind, one on which, for example, an interest rate would not be charged on the part element of it, so to speak? Are those final details worked out and, crucially, can the Minister outline a pathway as to how this will be introduced and implemented, together with a timeframe, to give borrowers an idea about this as they will be holding off because this is coming down the line? Can he indicate when this will be implemented?

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