Results 981-1,000 of 23,109 for speaker:Paddy Burke
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)
Paddy Burke: Or the bank's staff will go out and meet them in the whichever town they come from.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)
Paddy Burke: The Central Bank recently raised the level of capital reserves required. Will that have an impact on the bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)
Paddy Burke: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)
Paddy Burke: Will it have an impact on the amount of money the bank can lend? The bank will have to provide for a certain amount every year. Will some mortgage applicants not get one because of the extra pressures being put on by the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)
Paddy Burke: A lot of work now is contract work, for five years or whatever. How does the bank view a person who has a contract for five years if they apply for a mortgage? They may be out of work in five years. Is that taken into account when the bank assesses a person's suitability for a mortgage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)
Paddy Burke: Has the bank considered the typical mortgage period? Is it between 20 and 30 years?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)
Paddy Burke: Has the bank looked at 40 year or 50 year mortgages? Houses are getting so expensive that it should be a family's responsibility to pay back a loan rather than one person. At current prices, it should be a couple of generations which pay back a mortgage.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)
Paddy Burke: If a person is in his or her 40s, he or she will only get a 20 year mortgage.
- Seanad: Order of Business (10 Jul 2018)
Paddy Burke: I ask that we would, at some stage, have the Minister for Education and Skills to the House to discuss school buildings. There are many situations where an extension to a school is taking place and it might suit to have a larger classroom that the community is able to use after school hours. This would probably require a change of policy in regard to the type of classrooms or extensions to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: I welcome Ms McDonagh and her staff. Most of the questions I wished to ask have been answered. How many refusals of small and medium enterprises have been referred to the credit review committee?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: Approximately 50% of the 300 appeals have been upheld.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: That is a very small percentage of the overall number of applications.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: Is there a need for the credit review committee?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: On mortgages, all present know that there is a significant housing problem which will be difficult to solve. Has the bank considered offering 40 to 50-year mortgages?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: The longest mortgage currently available from Bank of Ireland is repayable over 30 years.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: There have been huge changes in employment practices such as five-year contracts, career breaks and so on. As a house will last more than 20 or 30 years, having a 40 or 50-year mortgage would be a good idea. I am delighted that the bank may introduce a 35-year mortgage.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: On the cost of housing, particularly in Dublin, which is very expensive, has the bank looked at the cost of developments? New building regulations have increased the cost of building a house, but wages have been relatively static in recent years. People are finding it difficult to get a mortgage to cover the cost of a new home or to meet mortgage repayments. Has the bank considered how the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: Some developers have recently had problems in securing funding. I am delighted to say Bank of Ireland has recently funded many developers. Mainstream banks do not seem to be funding developers to the same extent as previously; rather, developers are sourcing capital from funds to bankroll developments. In the past some developments were not completed. Individuals with mortgages for houses...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: A developer may only be able initially to fund 10% of the cost of development of 100 houses and must sell those ten houses before building the next stage of the development. That practice has led to problems in developments not being properly finished.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Bank of Ireland (5 Jul 2018)
Paddy Burke: Must a developer have the equity in cash or may it be in a different form?