Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

I thank the Deputies for those follow-on questions. On the last point raised by Deputy Ó Broin, it would be an awful thing if couples were looking at homes on the basis of an expectation of a mortgage they were not going to get. That would kill their hopes and dreams right out of the gate. As a result, I will look at the issue as to whether the calculator and the credit committee are out of kilter.

Deputy Heydon asked me to examine the income limits. I will not be looking at them for the time being. The limits of €50,000 for an individual and €75,000 for a couple are in line with the other affordability requirements we are introducing. The Rebuilding Ireland home loan and affordable housing products are new and will be kept under review into the future but for the time being they are set. As to the example that was given with regard to people who might be just above those limits, it is very interesting to consider the banks. While the banks do not come under my remit, there is a question as to whether the latitude they have to make exceptions is being used with respect to higher earners. Surely, those exceptions should be made in respect of lower earners who actually need the help rather than given to the higher earners. I would like to have a bit more information about that, albeit the Central Bank and the banks themselves are independent of my Department. Where the banks have exceptions policies, they should ensure that exceptions are not only made in respect of high earners as that undermines the whole point of having a flexibility to make exceptions within the lending criteria.

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