Cian O'Callaghan (Dublin Bay North, Social Democrats)
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512. To ask the Minister for Finance if he will consider introducing legislation (details supplied) that will ensure mortgage holders are making repayments that accurately reflect their loan to value ratio; and if he will make a statement on the matter. [45143/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The terms relating to the adjustment of interest rates is set out in individual mortgage contracts.

In addition, the Central Bank of Ireland's Consumer Protection Code sets out requirements regulated entities must comply with in relation to mortgage interest rates.

Where the interest rate which applies to a mortgage is based on a ratio of Loan-to-Value, the regulated entity must, at least on an annual basis, notify the consumer if the mortgage provides for movement to a lower interest rate based on a different Loan-to-Value ratio. It should be noted that this may be subject to the provision of an up-to-date valuation and other requirements.

If the consumer is permitted to move to a lower interest rate based on a different Loan-to-Value ratio, the regulated entity is required to invite the consumer to make contact in order to further discuss the matter.

If the consumer is not permitted to move to a lower interest rate based on a different Loan-to-Value ratio, the regulated entity is obliged to notify the consumer that they may be able to avail of lower interest rate from another regulated entity based on an up-to-date valuation.

The current Consumer Protection Code will, in March 2026, be replaced by a revised Consumer Protection Code. The Loan-to-Value interest rate provisions as set out above will be maintained in the revised Code.

At this time there are no plans to introduce further regulatory or legislative provisions in relation to the regulation of Loan-to-Value mortgage interest rates.