67 Deputy Joan Burton asked the Minister for Finance if his attention has been drawn to the fact that many mortgage holders on high rate, fixed interest mortgages who have suffered significant income reductions in the past year and who have not benefitted from the European Central Bank interest rate reductions are having difficulties meeting mortgage repayments and that such mortgage holders are being quoted large breakage fees to switch to cheaper, variable rate mortgages, sometimes amounting to tens of thousands of euro; his views on introducing a relatively modest cap on such breakage fees, particularly for those mortgage holders in financial difficulties; and if he will make a statement on the matter. [18984/09]

Summary

67 Deputy Joan Burton asked the Minister for Finance if his attention has been drawn to the fact that many mortgage holders on high rate, fixed interest mortgages who have suffered significant income reductions in the past year and who have not benefitted from the European Central Bank interest rate reductions are having difficulties meeting mortgage repayments and that such mortgage holders are being quoted large breakage fees to switch to cheaper, variable rate mortgages, sometimes amounting to tens of thousands of euro; his views on introducing a relatively modest cap on such breakage fees, particularly for those mortgage holders in financial difficulties; and if he will make a statement on the matter. [18984/09]

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• Financial Services Regulation.

  xml · EN · 13 May 2009

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