Results 15,661-15,680 of 27,945 for speaker:Michael McGrath

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.

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

Michael McGrath: 4. To ask the Minister for Finance if he is satisfied with competition levels in the Irish mortgage market, particularly the impact on standard variable rates; his views that action is required to ensure equal treatment between existing and new mortgage customers; and if he will make a statement on the matter. [1517/16]

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

Michael McGrath: As the Minister knows, I have consistently raised the issue of standard variable interest mortgage rates being charged in this country, particularly the rates being charged on approximately 300,000 existing bank customers on a standard variable rate. There is a marked difference between the rates they are being charged and those being offered by financial institutions to new customers. That...

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: Motor Insurance Regulation (14 Jan 2016)

Michael McGrath: I thank the Minister for his reply. The reasons behind the hikes in insurance premiums are many and varied. They include an increase in the cost of settling claims, an increase in the incidence of fraud, a lack of consistency in court awards and a lack of transparency around out-of-court settlements involving insurance companies and claimants. These issues require examination and must be...

Ceisteanna - Questions - Priority Questions: Motor Insurance Regulation (14 Jan 2016)

Michael McGrath: 1. To ask the Minister for Finance if he will reconstitute the Motor Insurance Advisory Board, which was previously successful in reducing motor insurance premiums, particularly to examine the profitability of the industry, the settlement of claims and the impact of false and exaggerated claims on premiums; and if he will make a statement on the matter. [1516/16]

Ceisteanna - Questions - Priority Questions: Motor Insurance Regulation (14 Jan 2016)

Michael McGrath: I thank the Ceann Comhairle. On a personal note, I wish the Minister, Deputy Noonan, all the best. It is good to see him in good form and working away following his health difficulties before Christmas. I wish him the very best. The issue I raise in this question is the need to re-establish the Motor Insurance Advisory Board to examine the rapid escalation in motor insurance premiums....

Ceisteanna - Questions - Priority Questions: Motor Insurance Regulation (14 Jan 2016)

Michael McGrath: I thank the Minister for his reply. These are more than reports of increases in motor insurance premiums - over the last 12 months or so, motor insurance premiums have increased by up to 30%. The industry predicts that over the course of 2016, increases will be of the order of 25%. Somebody who paid a premium of €400 in 2014 will probably pay €650 to €700 after this...

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]