Mortgage Interest Rates
Dail Éireann — 2025-07-15
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Pearse Doherty (SF), Donegal

This is an issue I have raised with the Minister numerous times. Along with the former Minister, Michael McGrath, he was a cheerleader for the selling off of these loans to the vulture funds. He obstructed and blocked a Bill that would have prevented it from happening. All of these individuals are now paying more interest than they would be if they were with a main-street lender, even for performing loans. I would like the Minister to give us a further breakdown. How many of those mortgage prisoners are paying 6% or 7% interest rates? Take Pepper as an example. Pepper's interest rates went down twice during the ECB's eight cuts. Mars, as I understand it, only announced one. Some customers of Mars have actually seen their interest rates go up. It has been reported that interest rates have gone from being 7.7% in some cases to 7%, or from 7% to 6.3%. Some of these individuals are being charged extortionate rates. Given that the Minister was responsible for allowing this to happen, does he feel any responsibility for these individuals who are now being fleeced?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2025-07-15/debate/main
Retrieved: 2026-08-31T01:00:50+00:00
Sitting date: 2025-07-15