Aideen Hayden (Labour) | Oireachtas source

I have, but this is an important issue. Third, interest rates will be imposed by the lender. That is grand when we are dealing with Bank of Ireland, AIB and so on, but these mortgage holders will be dealing with organisations that are based outside the country and there will be no restriction on the interest rate they charge unless it is described as usury, and we all know what that means - more than 50% and up to 200% in some instances. This is a serious issue. The alternative is that the loan book should move to NAMA, and that is what should happen. There is no protection for INBS mortgage holders in what is proposed. Only 1% of them are on tracker mortgages, which means 99% of them have no protection.