Results 8,841-8,860 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: Perhaps Mr. Coyle will also inform us of the bank's current market share of new business being written.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: Ulster Bank's market share of new mortgage business is in excess of 16%. Does the 2.3% two-year rate apply irrespective of the loan-to-value, LTV, ratio? Is it open to existing mortgage holders who are in negative equity?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: Some 59% of Ulster Bank's mortgage book is tracker related,-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: -----with 17% of mortgages on variable rates and 24% on fixed rates. The 17% on variable rates has a €2.8 billion book value. How many mortgages are still paying a variable rate of 4.3%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: The total book.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: How many mortgages does that figure translate to approximately?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: I would imagine not all of them are in the LTV category between 80% and 90%. Their LTV may well have improved over time but they just did not do anything about it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: The bank writes to them once per year. Customers who have a lower LTV ratio and want to remain on a variable rate can change and move down the LTV band and get a lower rate-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: -----online using the Manage Your Mortgage portal. Is it correct that they do not even have to send in an up-to-date valuation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: The Bank is not competing in the cash-back space.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: How do the delegates find the dynamic within the market? Many individuals, including first-time buyers, see an attraction. I hold the view that they end up paying more in the long run because they are paying a higher interest rate, but it can be difficult for people to weigh up where their best long-term interests lie, and €10,000 or €15,000 upfront can be attractive if one is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: Finally, may I touch on the tracker mortgage examination? I am sure Ms Howard is aware that Ulster Bank was pretty slow in getting up to speed and coming to grips with the tracker mortgage issue. It took a long time to identify the relevant accounts and pay out in redress and compensation. The message the bank is giving us in the questionnaire is that it is pretty much there, or very close...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: So the operational cost to the bank has been about €150 million.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: Mr. Stanley said there are no significant estimates. Has the bank made any provision for a fine?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)

Michael McGrath: Is that enforcement investigation ongoing or active?

Written Answers — Department of Defence: Protected Disclosures (8 May 2019)

Michael McGrath: 71. To ask the Taoiseach and Minister for Defence the position regarding the application of the protected disclosures legislation to persons in the Defence Forces; the person or body to which they should make a protected disclosure if they wish to make a complaint; and if he will make a statement on the matter. [19999/19]

Written Answers — Department of Defence: Naval Service Strength (8 May 2019)

Michael McGrath: 72. To ask the Taoiseach and Minister for Defence the strength of the Naval Service by number of personnel and rank in each year since 2010, in tabular form; and if he will make a statement on the matter. [20071/19]

Written Answers — Department of Defence: Naval Service Staff (8 May 2019)

Michael McGrath: 73. To ask the Taoiseach and Minister for Defence the number of Naval Service personnel that left their employment early in each year since 2010; the number that made a payment to the Naval Service and-or his Department as a result of ending their contracts early; the amount paid each year by such persons; and if he will make a statement on the matter. [20072/19]

Written Answers — Department of Finance: Corporation Tax (8 May 2019)

Michael McGrath: 114. To ask the Minister for Finance the amount of corporation tax receipts forecast at the beginning of each of the years 2010 to 2018 to be collected during each year; the amount actually collected for each year; the difference between the figures in tabular form; and if he will make a statement on the matter. [18642/19]

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (8 May 2019)

Michael McGrath: 138. To ask the Minister for Finance the position on the legal fees of the lender being applied to the mortgage account of the borrower in a mortgage arrears situation; and if he will make a statement on the matter. [19175/19]