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

I have already publicly said, and I am happy to repeat that statement, that the banks have an important role to play in facilitating and welcoming switchers from all parts of the financial sector, including from the non-bank sector. There are many inherently good mortgages which may technically be deemed to be a non-performing exposure but which can be cured in that technical sense because the customers are co-operating and paying their mortgages in line with the agreement they have. There may be some mortgages where it is not possible to switch them back because they are deep in arrears or the customers are not co-operating or have not made a payment in six or 12 months. However, in the vast majority of cases, people are making a genuine effort and there is an obligation on the banking sector to engage in a spirit of co-operation and to positively welcome and be receptive to customers in the non-bank sector who are making a genuine effort to pay their mortgages. These customers should be welcomed in terms of a switching application process that leads to successful switching to a much greater degree than we are currently seeing.

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