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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: Could they have been taken out as trackers in the 1990s?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: Could interest-only loans have started in the 1990s?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: Mr. Kissane raised the issue of the statute bar. The Central Bank told us the statute bar does not come into play once a person finds he or she is impacted.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: This would mean people would only be entitled to the difference in the interest rate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: What is the advantage of the bank taking a customer from a tracker to a variable rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: The Bank of Ireland is now pushing fixed-interest rate loans for five or ten years, saying this is the way forward because one cannot pay lump sums off a tracker mortgage.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: Is that the case with a tracker?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: Are the banks hedging now?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: Mr. Kissane said the Bank of Scotland was the first to introduce them. How long after that did it take the other banks to get in on the act?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

Paddy Burke: Does Mr. Kissane think a cartel operated at that time?

Seanad: Project Ireland 2040: Statements (7 Mar 2018)

Paddy Burke: I welcome the Minister of State, Deputy O'Donovan, to the House and wish him, the Minister for Finance and the Government well with this plan. As Senator Boyhan said, the key point is that this plan should be delivered and timeframes should be set for projects and those timeframes should be met. This plan has been in gestation for a considerable period. It started in October 2014. Various...

Seanad: Project Ireland 2040: Statements (7 Mar 2018)

Paddy Burke: Or the OECD. It is one of the best organisations with which we have had meetings. There is input into the plan in terms of figures that have been put forward by the OECD and the ERSI. The ERSI stated that it expects the population to grow by 1 million up to 2040 and that 660,000 additional jobs will be created. I like the way in which the Government has split up investment under the plan...

Seanad: Project Ireland 2040: Statements (7 Mar 2018)

Paddy Burke: Dublin would have no milk if it were not for rural areas.

Seanad: Project Ireland 2040: Statements (7 Mar 2018)

Paddy Burke: Maidin amárach ar 10.30.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU Finances Post-2020: European Commissioner for Budget and Human Resources (6 Mar 2018)

Paddy Burke: I welcome the Commissioner. I have two brief questions. He mentioned that the overall defence budget would be about 2%. How will it be distributed? Will it be given to member states or will there be a new centre set up in Europe as a focus for an organised European defence? Will there be a specific budget for European energy security? If so how will it operate given that we are not...

Seanad: Order of Business (28 Feb 2018)

Paddy Burke: I wish to be associated with the good wishes extended to Senator Ó Clochartaigh. He has beautiful Irish and it is lovely to listen to him speaking the language. He has a great ability to switch between Irish and English and it is absolutely fabulous to listen to him. When I was Cathaoirleach he posed a lot of problems for me because my Irish was very poor. He would table either a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: I welcome Mr. Masding and his staff. As the bank has sold off many mortgages, does everybody know whether his or her mortgage has been sold?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: The customers would know if the loan was still with Permanent TSB or a vulture fund.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: In this case, all the impacted people have been written to by the bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Paddy Burke: How does it work? The bank has sold some houses.

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