David Stanton
Question:134 Mr. Stanton asked the Tánaiste and Minister for Enterprise, Trade and Employment her views on the extent of unregulated mortgage lending; and if she will make a statement on the matter. [4441/99]
Written Answers. - Mortgage Lending.
Under the law as it currently stands it is possible for individuals or companies to act as mortgage lenders without a licence or authorisation from any authority and without any restrictions as to the interest rates they may charge. Both I and the Director of Consumer Affairs are concerned about this situation and my Department has recently begun a review of the Consumer Credit Act, 1995, with a view to identifying any gaps in the protection afforded to consumers, including the issue of unregulated mortgage lending.
David Stanton
Question:135 Mr. Stanton asked the Tánaiste and Minister for Enterprise, Trade and Employment the number of authorised mortgage intermediaries registered up to the end of 1998; and if she will make a statement on the matter. [4442/99]
Authorisation of a mortgage intermediary is valid for a period of one year from the date of issue. There are up to ten different dates of issue in a calendar year. The number of mortgage intermediaries holding a current authorisation in 1997 was 435 and in 1998 was 624.