Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

119. To ask the Minister for Finance if he will encourage lenders to allow borrowers who are moving home to be able to keep their tracker mortgage rate; the number of cases in which banks facilitated this in 2013 and 2014; and if he will make a statement on the matter. [11028/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The decision to advance credit, and the terms on which such credit is advanced, is a commercial decision for individual lenders. In that regard, there are no particular requirements to allow or prevent banks from allowing borrowers who are moving to keep their tracker mortgage rate. I am informed by the Central Bank that a number of banks currently offer various tracker mover products but it does not have data on this.