Results 6,901-6,920 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: On the issue of new lending, am I correct in stating that Bank of Ireland has 21% of the mortgage market?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: Everyone is of the view that there must be a return to normalisation in the market. When people hear the term "recovery" it could frighten them because they might interpret it as meaning that another housing bubble is coming down the tracks. With regard to normalising the housing market, in 2009 the Central Bank introduced additional prudential guidelines in respect of the home purchasing...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: There is no question but that Bank of Ireland has done quite well in the past 12 months in the context of expanding its mortgage book. That is a welcome development. Has the bank adopted a target-driven approach in this regard? Have branch managers and area managers been given targets to achieve in the context of their mortgage books?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: I asked whether targets have been set.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: I presume that the target is larger than that which obtained last year and that the bank would hope that it will rise to 22%, 24% or 25%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: That clarifies the position. I have put a particular question to the representatives of the other banks who came before us and I will now put it to our guests. The LTV requirement varies between the institutions. In Bank of Ireland's case it is 90%. It has been suggested to me that a particular practice is developing and I would like to know if it has gained traction within Bank of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: That is not the question I asked. I inquired whether it would be possible for me to obtain a 100% mortgage of €200,000 because the property I am seeking to buy has been valued at €220,000.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: I am going to be very explicit in the context of the question I am going to pose. I am using estimated figures but my question is very specific. Is it possible for a purchaser to buy a private dwelling by means of a 100% loan from the Bank of Ireland because a valuation that is greater than the purchase price has been attributed to the property?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: I still do not know if that is the answer to the question I am asking.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: So the amount of the loan would be €180,000.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: So the bank will not lend €200,000 in such circumstances, it will only lend €180,000.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: That is the information I required. I thank Mr. Boucher.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: Mr. Boucher, one of the things that we are trying to establish here is consistency among the banks. Any level of ambiguity that exists as a result of people watching the proceedings does not help the bank, the committee or bank customers. Senator Byrne is trying to establish the bank's practice. Policy is one thing but when we asked questions of the other banks during the week about their...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: Senator Byrne-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: No, Deputy Mathews cannot.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: No, you will not be helpful.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: No, it will not be helpful. Senator Byrne is in possession.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: I will rephrase my comment. It will not be helpful.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: I ask Deputy Mathews to desist from interfering in proceedings.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Ciarán Lynch: He is not helping.