Results 14,161-14,180 of 26,357 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: To what does Mr. Byrne anticipate the figure will grow?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: A standard clause has come up, I believe clause 3.2c in the mortgage contract I have seen, which states if people break a fixed rate early, they should be entitled to avail of a tracker rate. That does not appear to be the case in AIB. Does Mr. Byrne believe that if people break a fixed rate early, they should be entitled to go back on the tracker rate? If a person takes out a fixed rate...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: Are there circumstances where people who break a fixed rate contract could go back on a tracker mortgage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: If, say, they are on a tracker and they decide they want to pull out of the fixed rate contract in year 2 of a three-year cycle, are they entitled to go back on a tracker mortgage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: No, Mr. O'Keeffe is not.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: Would the issue have been to do with other issues such as non-payment of mortgage and so forth in the particular instance?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: If someone who was paying their mortgage on time, and everything was up to date, and then decided in year 2 of a three-year contract that they wished to break their fixed rate, would they be entitled to go back on the tracker rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: There was a specific set of questions sent to all members.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: They are general questions and are not specific to any individual customer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: I acknowledge the workbench space in O'Connell Street in Limerick and the enterprise week. It is an excellent initiative. I will move on from what Deputy Michael McGrath said about providing funding to builders and developers to build homes. What has been the level of funding Bank of Ireland has provided for the building of new estates nationally in the past year? I could not see it in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: Is €1 billion out at any one time?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: Does the bank keep track of the number of units of houses that are being built that are funded by Bank of Ireland at any point in time?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: Could Mr. McLoughlin give me the current figure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: Yes, because Mr. McLoughlin will appreciate that what we are looking at here, apart from providing mortgages, is what level of funding the bank is providing to building in particular for starter homes and affordable homes for young couples. My next question follows on from that. The bank provides 3% cash-back. Is it fair to say that existing customers of Bank of Ireland might feel they...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: I am assuming that finds its way into the bank building up its risk base in terms of the rate it applies.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: So, ultimately, if that 3% was not there, I expect it would provide a little bit of leverage in terms of what the bank could charge existing customers to achieve the same margin.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: Does Mr. McLoughlin agree?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: There is an element of "hello money" about it in that it is an incentive for first-time buyers to go to Bank of Ireland rather than to another bank. Instead of charging a lower interest rate, where banks traditionally load interest upfront in terms of people repaying their mortgage, the bank is effectively factoring in a cash payment loaded upfront when people take out a mortgage.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: On the basis that it looks like ECB rates will not increase for the next two years at least and that the bank is now in a competitive market, will Bank of Ireland reduce its mortgage interest rate in line with the likes of AIB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Kieran O'Donnell: Is Mr. McLoughlin saying categorically that before the end of the year we will not see a reduction in the mortgage interest rate by Bank of Ireland?