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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: A building society effectively.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: The operating models would be similar. Anyway, continue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: Are they more competitive than the universal banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: Has Denmark had that model for many decades or is it new?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: Who owns these banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: Some are state owned.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: In terms of rents and so forth, does the CCPC have concerns about funds' level of ownership of the rental property market, particularly in Dublin? Is this issue appearing on the CCPC's radar?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: I refer to he level of ownership that many of the larger funds - dare I say it, vulture funds - have of the private rental market, particularly in Dublin. Has it appeared on the CCPC's radar?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Kieran O'Donnell: Okay.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: I want to commend Father McVerry on the great work he has done. Can I get slightly technical and go through the Bill itself and how it would work in practice? I want in particular to look at Part V with regard to the National Housing Co-operative Society. Would it be fair to say that model B will be the default position in most cases and that model A would probably never work? This is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: By the mortgage owner, which will effectively be the co-op itself. How long will it take for A, B and C to function? Is the likelihood that the situation will automatically end up going to model B at a minimum and in some cases to model C? If the co-op ends up buying the house as distinct from the loan, the people in the house then become the tenants. Would the witnesses envisage putting...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: With due respect, I beg to differ with Mr. Honohan. For most people their home is their home, whether it is rented, owned by a local authority, owned by a co-op, or privately owned. There is a deep attachment to the home. That is the level of detail that-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: I know that a lot of current cases operate under A.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: Perhaps the witness might enlighten us.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: Does the funding of this model stand up?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: Is there any precedent elsewhere of the European Investment Fund providing a guarantee?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: What is the adjustment required?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: Has the European Investment Fund given guarantees to housing co-operatives to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: Which banks are we talking about?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Kieran O'Donnell: Could I ask a question?

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