85 Deputy Kevin Humphreys asked the Minister for Finance if his attention has been drawn to the fact that Permanent TSB continue to charge very high standard variable rates of more than 6% on investment retail mortgages, their reduction of 0.5% on the SVR applicable to home loans was not passed onto these borrowers and that this policy of retaining higher interest rates to off-set the losses on tracker mortgages is causing financial difficulties for these borrowers; if he will ask PTSB, which has received significant support from public funds and has access to low rate European Central Bank lending, to address this issue and ensure those borrowers who are paying their debts are not unduly burdened as their SVR has increased from 3.84% in April 2009 to 6.34% in January 2012, whilst the ECB rate declined from 1.5% to 1% in the same period meaning the margin for PTSB has increased from 2.34% to 5.34%; and if he will make a statement on the matter. [24520/12]

Summary

85 Deputy Kevin Humphreys asked the Minister for Finance if his attention has been drawn to the fact that Permanent TSB continue to charge very high standard variable rates of more than 6% on investment retail mortgages, their reduction of 0.5% on the SVR applicable to home loans was not passed onto these borrowers and that this policy of retaining higher interest rates to off-set the losses on tracker mortgages is causing financial difficulties for these borrowers; if he will ask PTSB, which has received significant support from public funds and has access to low rate European Central Bank lending, to address this issue and ensure those borrowers who are paying their debts are not unduly burdened as their SVR has increased from 3.84% in April 2009 to 6.34% in January 2012, whilst the ECB rate declined from 1.5% to 1% in the same period meaning the margin for PTSB has increased from 2.34% to 5.34%; and if he will make a statement on the matter. [24520/12]

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• Financial Services Regulation

  xml · EN · 16 May 2012

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