120 Deputy Michael D. Higgins asked the Tánaiste and Minister for Finance his views on recent housing data from the Department of the Environment, Heritage and Local Government showing that the number of interest only mortgages approved has trebled from approximately 5% in early 2004 to 16% in the third quarter of 2007; if he is satisfied that the necessary processes are in place in financial institutions to protect mortgages holders; if he has had discussions with the Central Bank or Financial Regulator regarding this issue; and if he will make a statement on the matter. [2350/08]

Summary

120 Deputy Michael D. Higgins asked the Tánaiste and Minister for Finance his views on recent housing data from the Department of the Environment, Heritage and Local Government showing that the number of interest only mortgages approved has trebled from approximately 5% in early 2004 to 16% in the third quarter of 2007; if he is satisfied that the necessary processes are in place in financial institutions to protect mortgages holders; if he has had discussions with the Central Bank or Financial Regulator regarding this issue; and if he will make a statement on the matter. [2350/08]

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