Vol. 229 No. 5
asked the Minister for Industry and Commerce whether he has had any meeting with building societies who increased their interest rates recently; and whether any legal protection is contemplated for house purchasers against unilateral increase in their rates.
39.
asked the Minister for Industry and Commerce if, having regard to the great anxiety existing among a considerable number of house purchasers, he will now make a statement describing the action he intends to take in respect of the published intention of some building societies to increase the rate of interest on existing mortgages.
With your permission, a Cheann Comhairle, I propose to take Questions Nos. 38 and 39 together.
I have had an examination made of the accounts of the major building societies and a meeting has taken place in my Department with representatives of the societies. I am not satisfied that the examination and discussion have clarified all aspects of the matter and I have, accordingly, arranged for a further meetings to be held, following which I hope to be in a position to arrive at a conclusion as to whether action on my part is needed.
