Mortgage Interest Rates
Dail Éireann — 2023-03-07
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Pearse Doherty (SF), Donegal

We have the data on that but let us deal with individuals. A person contacted me about mortgages sold to Pepper that have increased by €520. Another person's mortgage increased by €560. If that is multiplied over a year, it amounts to thousands more euro they have to pay. They were sold a lie. They were told they would be no worse off if their loans were sold to a vulture. They cannot fix. They cannot switch. They are now paying thousands more euro than they would with Permanent TSB. There are others who had a shock in terms of what they were paying before because of the increase in interest rates. These increases in interest rates are happening because of inflation, which is primarily driven by the war in Ukraine. The Government has not brought forward one single proposal to help these individuals. The Government needs to do something. The Central Bank is doing a piece of work in terms of the consumer protection code because it recognises there is a role for us. As a Minister, Deputy McGrath needs to step in-----

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2023-03-07/debate/main
Retrieved: 2026-08-14T04:51:40+00:00
Sitting date: 2023-03-07