Results 12,261-12,280 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (14 Jan 2016)

Michael McGrath: There have been new initiatives for new customers but the progress for existing standard variable rate mortgage customers has been extremely limited or non-existent in some cases. We can consider the rates at which banks can currently access funds. In October, Bank of Ireland raised five-year money at just over 0.7% and AIB can raise money at similar rates. The Bank of Ireland standard...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (14 Jan 2016)

Michael McGrath: There certainly is a degree of competition for new mortgages and for those who are in a position to switch. I would be the first to advocate to those who have equity in their homes and who are in a position to switch their mortgage from one provider to another to avail of a better interest rate to do so. People of course should shop around and I have asked the Central Bank to consider...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (14 Jan 2016)

Michael McGrath: -----but they certainly should do this where they can. However, this does not take away from the fundamental fact that many people do not have this option and are trapped. They are trapped by reason of financial circumstance such as a reduction in their income or they may be in negative equity and other banks are not interested in taking their business.

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (14 Jan 2016)

Michael McGrath: They are being denied interest rates that could result in a reduction in their monthly repayments in the order of hundreds of euro.

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (14 Jan 2016)

Michael McGrath: This is a cohort of people Members really should be trying to help. A fixed rate is not an option for everyone because one loses flexibility if one enters into a fixed rate arrangement.

Other Questions: NAMA Operations (14 Jan 2016)

Michael McGrath: 8. To ask the Minister for Finance when the National Asset Management Agency will complete its original mandate; what he expects the financial outturn to be; if he will formally expand the role of the agency; when he expects the agency to be formally wound up; and if he will make a statement on the matter. [1325/16]

Other Questions: NAMA Operations (14 Jan 2016)

Michael McGrath: As we move towards the end of the current Dáil, it is timely that the Minister for Finance give the House an update on the work of NAMA. When does the Minister expect NAMA to complete its original mandate given in 2009? What does anticipate the financial outturn to be? Will he formally expand the role of the agency? It is moving towards taking the role of a development agency. When...

Other Questions: NAMA Operations (14 Jan 2016)

Michael McGrath: I thank the Minister for the reply. Can the Minister confirm that the estimated financial surplus at the end of NAMA's work is approximately €2 billion? NAMA paid approximately €32 billion for loans with a total book value of €74 billion. The fact that NAMA plans to support the construction of 20,000 homes on a commercial basis by 2020 is to be welcomed, provided it...

Other Questions: NAMA Operations (14 Jan 2016)

Michael McGrath: Although the provision of 20,000 homes by 2020 would be an important contribution towards meeting the housing supply need that undoubtedly exists in this country, the Minister will appreciate that it would represent just a fraction of the total requirement. Other issues in the private sector, including access to finance and the viability of development projects that are seeking to get under...

Written Answers — Department of Finance: Flood Risk Insurance Cover (14 Jan 2016)

Michael McGrath: 10. To ask the Minister for Finance his views on insurance companies refusing flood insurance cover to householders and businesses in areas where flood relief schemes have been completed by the Office of Public Works to the required European Union standard and have proven to be effective; if he will take any action in this area; and if he will make a statement on the matter. [1321/16]

Written Answers — Department of Finance: Small and Medium Enterprises Debt (14 Jan 2016)

Michael McGrath: 14. To ask the Minister for Finance if he will publish updated targets for dealing with debt in small and medium sized enterprises by the State-supported and other banks; and if he will make a statement on the matter. [1324/16]

Written Answers — Department of Finance: Credit Unions Restructuring (14 Jan 2016)

Michael McGrath: 24. To ask the Minister for Finance if he is considering extending the deadline for credit unions to apply for assistance from the restructuring board; and if he will make a statement on the matter. [1323/16]

Written Answers — Department of Finance: Banking Sector Regulation (14 Jan 2016)

Michael McGrath: 26. To ask the Minister for Finance if he supports the principle that the Central Bank of Ireland mortgage deposit rules be amended to take account of the track record of persons who are renting privately, given the inevitable impact this has on their ability to save for a deposit; and if he will make a statement on the matter. [1322/16]

Written Answers — Department of Social Protection: Water Conservation Grant Data (14 Jan 2016)

Michael McGrath: 55. To ask the Tánaiste and Minister for Social Protection the administrative costs incurred in 2015 of implementing the water conservation grant; and if she will make a statement on the matter. [1725/16]

Written Answers — Department of Finance: Property Tax Assessments (14 Jan 2016)

Michael McGrath: 91. To ask the Minister for Finance if home owners who have been affected by recent flooding can submit a revised valuation of their property in respect of their local property tax liability for 2016 or if the May 2013 valuation continues to apply and therefore, the only relief available to them is a deferral; and if he will make a statement on the matter. [1585/16]

Written Answers — Department of Finance: Property Tax Assessments (14 Jan 2016)

Michael McGrath: 92. To ask the Minister for Finance the process by which a home owner can seek a reduction in local property tax liability for 2016 if that person has been affected by flooding; and if he will make a statement on the matter. [1586/16]

Written Answers — Department of Finance: Financial Services Regulation (14 Jan 2016)

Michael McGrath: 96. To ask the Minister for Finance if he is satisfied with the operation of legislation to provide protection to persons whose mortgages are sold to third parties; and if he will make a statement on the matter. [1724/16]

Written Answers — Department of Finance: Financial Services Regulation (14 Jan 2016)

Michael McGrath: 101. To ask the Minister for Finance the number of firms which are regulated under the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015; and if he will make a statement on the matter. [1731/16]

Written Answers — Department of Finance: Tax Credits (14 Jan 2016)

Michael McGrath: 97. To ask the Minister for Finance if he will amend the regulations for the single person child carer such that if the tax credit is not taken up in full by the primary claimant before the end of the tax year, the unused tax credit may be transferred to the secondary claimant; and if he will make a statement on the matter. [1726/16]

Written Answers — Department of Finance: Tax Settlements (14 Jan 2016)

Michael McGrath: 98. To ask the Minister for Finance the amount of tax, interest and surcharges that were payable but written off in settlements with persons or companies in each of the years 2011 to 2015; and if he will make a statement on the matter. [1727/16]