Thursday, 16 December 2021
Ceisteanna Eile - Other Questions
Mortgage Interest Rates
The Minister of State rightly says that this is a small market with unique challenges, particularly in the requirement for retained capital, but we are part of the world’s largest economic block and the Single Market. We see in so many different areas the opportunity and competition that present not just to Irish consumers but also to Irish exporters in terms of goods and services. One area where it is not being felt is in financial services, particularly lending and mortgages. While the declining interest rate is welcome, there is no equity in comparison with the average European mortgage holder. How are we going to utilise our membership of the Common Market over the next decade to give Irish mortgage holders greater choice and competition and cheaper mortgages?